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Mindoro Resources Ltd. (TSXV:MIO,ASX:MDO) announced yesterday that it has applied to delist from the Australian Securities Exchange (ASX). The company’s shares will remain listed on the TSX Venture Exchange.
Mindoro Resources Ltd. (TSXV:MIO,ASX:MDO) announced yesterday that it has applied to delist from the Australian Securities Exchange (ASX). The company’s shares will remain listed on the TSX Venture Exchange.
As quoted in the press release:
The Company’s decision to delist is based on the low volume of trading of its CDIs on the ASX compared to common shares on the TSXV. During 2013, trading on the ASX represented just 6% of Mindoro’s total annual trading activity. As a result, Mindoro has determined that sustaining the administrative and compliance costs of the ASX listing, plus the higher level of regulatory compliance costs associated with two listings, are no longer justifiable and, accordingly, has sought ASX approval to delist.
Click here to read the full Mindoro Resources Ltd. (TSXV:MIO,ASX:MDO) press release.