Polo Resources Ltd. Now Listed On The BSX
Polo Resources Limited, the Canadian natural resources investment company with interests in gold, oil and gas, coal and iron ore, today [Apr. 5] announced that it has received approval for the listing of its ordinary shares on the Bermuda Stock Exchange [BSX].
The company’s ordinary shares commenced trading on the BSX on 4 April 2013 under the symbol POL:BH.
Following the receipt of approval to list on the BSX, the company has also applied for a voluntary delisting from the Toronto Stock Exchange. Following the listing on BSX and delisting from the TSX, Polo’s ordinary shares will be listed for trading on the AIM market of the London Stock Exchange [AIM] and listed on the BSX.
The BSX is listed as a recognised exchange under the United Kingdom Income Tax Act, 2007 enabling Polo shares to be held by Individual Saving Accounts [ISAs].
Neil Herbert, executive co-chairman and managing director, said: “We believe that the ability to hold shares through ISAs is very attractive to our many retail shareholders and that was a key factor in our decision to list on the BSX, where they can continue to do so.”
The company’s board has decided that the costs of maintaining the TSX listing are not in the best interests of the Company’s shareholders. Subject to the application being accepted by the TSX, it is expected that the ordinary shares will be delisted from the TSX at the close of trading on 5 April 2013.
No change will occur to Polo’s ordinary shares on AIM, which will continue to be listed and trade as normal under the symbol “POL”. Following delisting from the TSX, the company may apply to the applicable securities commissions in Canada for cessation of the company’s reporting issuer status and the Canadian register will be closed.
As a consequence of the TSX delisting, and prior to the closing of the Canadian branch register, shareholders currently on the Canadian branch register can request to have their shareholdings transferred to the main register maintained by Computershare Investor Services [Jersey] Limited.
