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Europa Metals' primary listing to become London’s AIM after unveiling plans to be de-listed from Australia’s ASX

“Following due consideration and in order to streamline the Company's listing and compliance costs, the Directors of Europa Metals have resolved that the continued listing of the Company's securities on the Official List is no longer in the best interests of the Company and its shareholders”

ASX
The group said it has also made an application to move from the main board of the Johannesburg Stock Exchange to the AltX

Europa Metals Limited (LON:EUZ) has said its primary listing is expected to become London Stock Exchange’s AIM market after unveiling plans to de-list from Australia’s ASX.

The European lead-zinc explorer said it has submitted a formal application requesting the removal of the company from the ASX official list.

WATCH: Europa Metals' Laurence Read updates on Toral exploration and ASX de-listing

It added: “Following due consideration and in order to streamline the Company's listing and compliance costs, the Directors of Europa Metals have resolved that the continued listing of the Company's securities on the Official List is no longer in the best interests of the Company and its shareholders.”

The group said it has also made an application to move from the main board of the Johannesburg Stock Exchange (JSE) to the AltX.

Consequently, the group added, Europa Metal's primary listing is expected to become London’s AIM market.

Europa Metals said that, since its ordinary shares were admitted to trading on AIM on 15 December 2010, the London market has become the more dominant exchange for the company with approximately 83% of the group’s listed securities being traded on AIM.

It noted that trading on the JSE accounts for approximately 6.3%, with the remaining 10.7% of the company's securities traded via ASX.

In afternoon trading in London, Europa Metal’s shares were 5.1% higher at 0.04p.

Quick facts: Europa Metals Ltd

Price: 0.027 GBX

AIM:EUZ
Market: AIM
Market Cap: £4.51 m
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