Karelian Diamond Resources to hold EGM to vote on post-Brexit changes to settlement system

Mon, 25th Jan 2021

Finland-focused diamond exploration and development company Karelian Diamond Resources has announced it has convened an EGM on 17 February 2021 to discuss a necessary technical change to the trading of shares following Brexit. Trades in the company's shares on AIM are currently settled via the CREST System, which is based in the UK. The company said that as a consequence of Brexit, the settlement system for trading in its shares needs to move from CREST to Euroclear Bank in Belgium, with the migration expected to occur on 15 March 2021 as part of a market-wide migration of all Irish securities. The company stated that failure to migrate would remove its access to electronic trade settlement and has asked all shareholders to support the proposed resolutions. If the resolutions proposed for the EGM are passed, the company's shares will continue to be traded on the AIM market. Proxy voting is to be carried out in advance of the EGM and votes must be lodged no later than 12.00am on 15 February. At 2:23pm: (LON:KDR) Karelian Diamond Resources PLC share price was 0p at 5.5p Story provided by StockMarketWire.com

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