Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF) told investors it intends to move its shares from the ‘Transition’ listing category on the London Stock Exchange, to the ‘Commercial Companies’ category.
These are among the new definitions under the newly reformed listing rules, brought in by the FCA this year.
Ecora said it believes ‘Commercial Companies’ is the most appropriate for its listing, and that it will provide ‘provide a more appropriate platform for the continued growth of the group and further raise its profile and status as the only royalty company focused on supporting the supply of industrial commodities essential to creating a sustainable future’.
Compared to the ‘Transition’ category, Ecora also believes the change will ‘afford increased protection for its shareholders under the UK Listing Rules as a result of the higher standards placed on companies listed in the Commercial Companies category.
Also, it will mean that Ecora will be eligible for inclusion in the FTSE UK Index Series (subject to it meeting other eligibility criteria).
And, the company noted that a larger number of institutional investors more regularly trade companies under the Commercial Companies category.