W Resources Plc (AIM:WRES), the tungsten, tin and gold mining and exploration company with assets in Spain and Portugal, announces the delisting of the Company’s ordinary shares from trading on AIM.
Trading in the Company’s shares was suspended on 5 April 2022 as a result of the impact of the uncertainties caused by the extremely high liquid natural gas prices that placed an excessive cost burden on the La Parrilla mine in Spain with the further impact of the ongoing truck drivers dispute which caused a shortage of critical spare parts. Subsequently, on 25 April 2022, the Company announced that Grant Thornton UK LLP had resigned as its nominated adviser with immediate effect.
Pursuant to AIM Rule 1 of the AIM Rules for Companies, if within one month of an AIM company ceasing to have a nominated adviser and the AIM Company has not appointed a replacement nominated adviser, the admission of its AIM securities to trading on AIM will be cancelled. In the case of trading in the Company’s shares, the one-month period since resignation of Grant Thornton UK LLP will end at 7.00am on 26 May 2022, when cancellation of admission of the Company’s securities will occur.
Future intention to seek a relisting
The Company intends to continue operating as a tungsten, tin and gold exploration, development and production company and hopes to seek a relisting on a Stock Exchange should circumstances allow and when appropriate. The Company will update shareholders as and when it is appropriate to do so.
Alternative trading platform
Further to the announcement on 23 May 2022, the Company confirms that it intends to admit its ordinary shares onto a share dealing platform and is towards the end of this process. Further information will be made available on the https://wresources.com/investors/shareholder-information/ page on the W Resources website in the coming weeks, in addition to a Q&A on the process.
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the “UK MAR”) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company’s obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
W Resources Plc
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