MOD Resources Limited (ASX: MOD) seek dual listing on the London Stock Exchange

 

MOD intends to seek a listing on the London Stock Exchange in Q4 2018
• Dual listing to increase the international profile of MOD and improve access to the UK and European institutional investors
• London Stock Exchange is a leading destination for companies with African mining assets

MOD Resources Limited (ASX: MOD) (‘MOD’, or the ‘Company’) is pleased to announce it has commenced the process to seek a dual listing of the Company’s shares on the Standard Segment of the Main Market of the London Stock Exchange (‘LSE Listing’).

It is expected that the LSE Listing will take place following the completion of the Company’s transaction with Metal Tiger Plc announced on 18 July 2018, whereby MOD will consolidate 100% ownership of the T3 Copper Project and gain rights to acquire all joint venture exploration assets between the two companies in Botswana.

It is therefore anticipated that the LSE Listing process will complete and MOD shares will begin trading on
the London Stock Exchange in Q4 2018.

 
MOD’s Managing Director, Mr Julian Hanna said, “The decision to seek a listing on the London Stock Exchange, represents an important strategic milestone for MOD. The LSE has a long history of successful listings of companies with African mining assets and we expect the listing to raise the profile of MOD and open up access to a wider pool of investors. We look forward to building support for MOD amongst the UK and European investment community as we continue to grow the Company.”

The LSE Listing forms an important part of MOD’s strategy ahead of the raising of construction finance for the T3 Copper Project. It positions the Company for the next stage of its development by raising its international profile and facilitating the future participation of a broad spectrum of UK and European investors.

The Company has already been successful in attracting support from UK and European investors and the LSE Listing is expected to significantly broaden the investor base available to MOD to include institutional and other investors not currently able to invest through the Australian Stock Exchange (‘ASX’).

The London market has a deep understanding of African natural resources projects and it is expected there will be strong
support for the Company once dual listed.

MOD Resources’ Chairman, Mr Mark Clements, said “The Board considers the timing of the proposed LSE
Listing to be right during this period of rapid activity and growth.” There are currently few opportunities on the LSE for UK and European investors seeking exposure to copper and MOD considers their T3 Project and highly prospective exploration assets present a compelling investment opportunity for the London market.

On completion of the LSE Listing, MOD believes it will be the fifth largest London listed junior copper focused company* (see Figure 1). MOD will retain its existing ASX listing as the Company’s primary listing. MOD is well funded for its current
work program and is not currently planning to raise equity capital at the time of the LSE Listing.

 

MOD has appointed Tamesis Partners LLP as its financial advisor and Memery Crystal LLP as its legal adviser in relation to the LSE Listing, both of whom have advised extensively on the London listing of companies with African mining projects.

Completion of the LSE Listing is subject to MOD receiving the necessary approvals of the UK Listing Authority
and the London Stock Exchange.

MOD Resources Ltd (ASX: MOD) is an Australian-listed copper company actively exploring in the central Kalahari Copper Belt, Botswana. MOD owns 70% of a UK incorporated joint venture company, Metal Capital Limited with AIM-listed Metal Tiger Plc (30%).

Read Full News Release www.asx.com.au/asxpdf

 

 

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates.

Terms of Website Use

All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Malcare WordPress Security