6th Sep 2012 08:57
6 September 2012
Touchstone Gold
AIM Re-Admission Update
Touchstone Gold Limited (AIM:TGL) ("Touchstone" or "Company") announces that pending the completion of the proposed redomiciliation of the Company from the British Virgin Islands to the Province of Ontario, Canada ("redomiciliation ") and in order to facilitate the establishment and enablement of a new depositary interest facility to enable the trading of the Company's ordinary shares ("Touchstone Shares") in CREST following the redomiciliation; trading of the Touchstone Shares on the AIM market of the London Stock Exchange plc ("AIM") will be suspended effective from 7.30 a.m. on Friday, 7 September 2012.
Accordingly, the last day of trading in "old" Touchstone Shares will be today, Thursday, 6 September 2012.
It is expected that admission of Touchstone shares in the "new" form will take place in accordance with the AIM Rules on Monday, 10 September and that dealings in the Company's shares will commence at 8.00 a.m. on the same day. This is a procedural requirement as part of the redomicilation process and no action is required from shareholders.
The timetable of events in relation to the matters described in the circular posted to the Company's shareholders on 10 August 2012 is as follows:
·; Completion of the redomiciliation is expected to take effect by Friday, 7 September 2012;
·; Last day of dealings of "old" Touchstone Shares on AIM: Thursday, 6 September 2012;
·; Suspension of trading on AIM of the "old" Touchstone Shares: 7.30 a.m. (British Summer Time) on Friday, 7 September 2012;
·; Cancellation of admission of the "old" Touchstone Shares to trading on AIM: 8.00 a.m. (British Summer Time) on Monday, 10 September 2012; and
·; Admission effective in accordance with the AIM Rules and dealings in the "new" Touchstone Shares expected to commence on AIM: 8.00 a.m. (British Summer Time) on Monday, 10 September 2012.
The Company has requested the above mentioned suspension to allow it to complete the redomiciliation in accordance with Ontario law in advance of, and to take the necessary steps to, implement the replacement depositary interest facility to enable trading in the Touchstone Shares in CREST contemporaneous with, the cancellation of the admission of the Touchstone Shares to AIM and the admission of the Company's new ordinary shares to AIM in accordance with the above timetable.
Additionally, the Company has applied for admission to AIM of a further 59,108,300 Touchstone Shares to be issued to the shareholders of Atlantis Gold Mines Corp. ("Atlantis") on completion of the business combination between Touchstone and Atlantis. It is expected that admission will become effective in accordance with the AIM Rules and dealings in these further Touchstone Shares will commence on AIM at 8.00 a.m. (British Summer Time) on Tuesday, 11 September 2012.
For further information please contact:
Touchstone Gold | |
David Wiley | Tel. +1 647 260 1247 |
Chief Executive Officer | |
Canaccord Genuity Limited (Nominated Advisor and Joint Corporate Broker)
| |
John Prior | Tel. +44 20 7523 8350 |
Seb Jones | Tel. +44 20 7523 8350 |
Northland Capital Partners Limited (Joint Corporate Broker) | |
Gavin Burnell | Tel. +44 20 7796 8800 |
Edward Hutton | Tel. +44 20 7796 8800 |
John-Henry Wicks | Tel. +44 20 7796 8800 |
Merlin | |
Anca Spiridon | Tel. +44 20 7726 8400 |
Alexandra Ritterman | Tel. +44 20 7726 8400 |
About Touchstone Gold
Touchstone Gold is a gold exploration company and the 100% owner of the Rio Pescado Project in Colombia, comprising four mining concessions over a total area of 39 square kilometres in the highly prospective Segovia Gold Belt. It owns further options on the Santa Rosa Project, in the South Bolivar area of Colombia, comprising four proposed mining concessions and one mining concession over a total area of 68 square kilometres. With a philosophy of creating value by the systematic exploration and development of the Company's existing assets as well as the acquisition of suitable exploration and development mineral projects, the Company's long-term intention is to build a significant gold exploration and production company.
Related Shares:
TGL.L