27th Aug 2019 13:46
(Alliance News) - Herencia Resources PLC on Tuesday said it will be looking to relist on the London Stock Exchange, despite having been removed.
Herencia shares were cancelled from trading on AIM on Tuesday after the firm failed to appoint a new nominated advisor. Previous nomad WH Ireland Ltd resigned on July 30, and shares have been suspended from trading since February 25.
"The company is continuing to develop its portfolio and will seek a relisting on the London Stock Exchange as a new applicant as soon as possible. A delisting is not a new obstacle, given the company will undertake to produce an admission document for the relisting as a new applicant on the LSE, engaging in a regulatory process which is essentially the same as is required for a reverse takeover," said Herencia.
"There can be no guarantee either or both proposed transactions will complete in order to achieve this. The company will update shareholders as and when it is appropriate to do so."
The plan would be to review current copper assets in Chile, and look for other copper or gold acquisitions in South America. Herencia would be recapitalised, and a new nomad would be hired ahead of a capital raise post-relisting.