28th Apr 2020 14:20
(Alliance News) - Gemfields Group Ltd said Tuesday it will delist from trading on the Bermuda Stock Exchange with effect on July 1.
The reason for the delisting is that none of the gemstone maker's issued shares have traded in Bermuda to date and that its listing there is no longer needed as the company's shares are trading on London's AIM.
The original intention for listing in Bermuda was to comply with South African Exchange Control Regulations, and to facilitate Gemfields's listing in Johannesburg.
Shares in Gemfields were down 1.9% at ZAR1.55 on Tuesday in Johannesburg, while its London shares were 1.3% higher at 7.6 pence.
By Dayo Laniyan; [email protected]
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