Anglesey Mining plc said it looked for greater flexibility and potential tax benefits for investors in its proposed move to the Alternative Investment Market (AIM) of the London Stock Exchange (LSE).
STRATEGY
Anglesey also proposes cancelling admission of the company on the premium segment of the Official List and to trading on the LSE’s main market.
Chairman John F. Kearney said that the company first listed on the main board of the LSE in 1988.
“However, with the company’s current plans for the development of the Parys Mountain mine, the board of directors believes that moving to AIM will provide a more flexible regulatory regime, which is better suited to the company’s current stage of development and strategy.
“The AIM market is now an internationally recognised market which has an established reputation for growth companies.
“We believe the proposed move to AIM is now appropriate and will ultimately provide Anglesey Mining with greater flexibility over corporate and financing transactions, and also provide potential tax benefits to investors.”
Anglesey Mining will convene a general meeting for shareholders on 8 March 2022 to hold a vote on the proposals which require at least 75% approval.
INTERESTS
The company is developing its Parys Mountain copper-zinc-lead deposit (100%) on Anglesey.
Additionally, Anglesey Mining holds interests in the Grangesberg Iron project in Sweden as well as Labrador Iron Mines Holdings Ltd in Canada.