Platmin to Delist, Shares Plunge

- December 5th, 2011

Mining Weekly reported Platmin (TSX:PPN,LSE:PPN) said shareholders approved a share buyback, which the company will undertake after it delists.

Mining Weekly reported Platmin (TSX:PPN,LSE:PPN) said shareholders approved a share buyback, which the company will undertake after it delists.

As quoted in the market news:

The company said it decided to go private because the market undervalued it, and encouraged shareholders not to sell their stock as a consequence of the delisting.

Platmin’s stock plunged 32% on the news to hit C$0.125 apiece by 13:13 in Toronto as investors dumped the share ahead of the anticipated December 15 delisting date.

Click here to read the full Mining Weekly report.

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