PERTH, WESTERN AUSTRALIA--(Marketwired - April 13, 2015) - Gold producer Troy Resources Ltd. (TSX:TRY)(ASX:TRY) announced today that it has applied for the voluntary delisting of the Company's securities from the Toronto Stock Exchange (TSX).
Subject to the application being accepted, it is expected that Troy's securities will be delisted and therefore no longer traded on the TSX after the close of trading on Wednesday, 22 April 2015.
No change will occur to the quotation and trading of Troy shares under its existing code TRY on the Australian Securities Exchange (ASX).
Reasons for delisting
The decision to delist is due to several factors, including the very limited trading volume of Troy's shares over a sustained period, with more than 99% of trade in the Company's securities over the past 12 months occurring on the ASX, plus the low ownership of Troy shares on the Canadian register. As such, the Board considers the regulatory and other costs of the Company in maintaining the TSX listing can no longer be justified.
Implications for holders on the Canadian register
In order to trade their shares on the ASX, Canadian beneficial shareholders will need to have their holdings transferred to the Australian share register.
For beneficial shareholders who hold their shares through a broker or other intermediary that is a CDS participant, the CDS participant/broker must complete and submit the "Register Removal Request - Canada to Australia" on the shareholder's behalf.
After the proposed delisting date of 22 April 2015 and until a transfer to the Australian register is effected, shareholders on the Canadian register and beneficial shareholders holding their securities through a CDS participant/broker will not be able to trade their shares on the ASX and their holdings will remain on the Canadian share register.
Shares held on the Canadian register which have not been transferred by 15 May 2015 will automatically be transferred to an Issuer Sponsored Holding on the Australian share register.
Questions regarding the transfer process may be directed to Computershare's Global Transaction Unit on +1 866-277-2086.
Following delisting from the TSX, Troy intends to apply under Canadian securities laws for an order that it cease to be a reporting issuer in Canada. Until such order is granted, Troy will continue to comply with its applicable Canadian continuous reporting obligations.
ABN: 33 006 243 750