Metminco Limited AIM delisting and Share Registry update (9503C)

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RNS Number : 9503C

Metminco Limited

04 October 2018

METMINCO Limited

AIM Delisting and Registry Transfer

Further to the announcement dated Wednesday 19 September in which Metminco Limited ("Metminco" or the "Company") (ASX: MNC; AIM: MNC) advised its intention to cancel the admission to trading of its shares on AIM ("Cancellation"), effective 7:00am BST, 17 October 2018, the Company provides the following information for UK shareholders to understand the process and actions required to:

   --     register withdrawal of their stock from the UK depositary; 
   --     move their holdings to the Australian share registry agent; and 
   --     manage their Metminco shareholding on the Australian Securities Exchange ("ASX").

Summary

1. Metminco shares were suspended on AIM on the 19 September 2018, with Cancellation to be effective at 7:00am BST on the 17 October 2018. Metminco securities will not be traded again on AIM before cancellation.

2. Metminco shares continue to be listed and traded on the ASX platform, and UK shareholders will be able to trade their shares once holdings registration and broker trading system arrangements in Australia have been made.

3. UK shareholders will be required to withdraw their Metminco shareholding from CREST and register their holdings with Metminco's Australian registry - Link Market Services Limited ("Link").

4. This process commenced on 20 September 2018, and Metminco's UK Depositary, Computershare Investor Services PLC ("CPU UK"), commenced contacting UK Depository Interest ('DI') holders to advise available options.

5. DI holders can voluntarily request the re-assignment of their MNC shareholdings to the Company's Australian register until 25 October 2018. DI holders should contact their broker (as nominee) and provide instructions to effect such a transfer in line with CPU UK's correspondence who will facilitate the stock withdrawal from CREST and transfer to Link. After that date, the balance of the DI UK holdings will be automatically moved to Link, the Australian registry provider. The DI is converted to Metminco shares on a 1:1 basis

6. As MNC shareholdings are registered to Link, they will notify DI holders details of their holdings and their Securityholder Reference Number ("SRN") which uniquely identifies your holding on the Link Issuer Sponsored sub-register.

7. Holders of newly transferred shares will be able to trade their shares on the ASX through the following options

   a.   With your SRN, Link can sell your shares on your behalf. To use this option, contact Link (http://www.linkmarketservices.com.au) to understand their requirements and fees.

b. Arrange with an authorised market participant (usually a stockbroker or settlement agent) to sponsor you on the Australian CHESS system ("Clearing House Electronic Subregister System", the computer system used by the ASX to record shareholdings and manage the settlement of share transactions) in order that trades can be settled on ASX. To find an Australian broker, see https://www.asx.com.au/prices/find-broker.htm . To use a broker in Australia, a shareholder must contact a broker and open an account. They will request various details from you, including your SRN statement provided by Link and convert your holdings to the CHESS sub-register so that they can trade your shares as requested. CHESS shareholders are allocated a Holder Identification Number ("HIN"), which uniquely identifies you as the holder of shares on the CHESS sub-register.

c. Metminco has a commercial relationship with Patersons Securities Limited. They are the Advisors to the Company's current Sunshine Metals acquisition and capital raising. Their services can be accessed via their website www.psl.com.au/

8. After 25 October 2018, Metminco's UK depositary facility will be terminated, and the balance of the UK DI holdings will be automatically removed to Link, the Australian Registry.

9. Link will then contact the registered holders of the automatically removed shares, being the nominees, to notify of their holdings' details, information of other Link services and the Link contact details to resolve any issues. Shareholders are strongly encouraged to read the further important details set out below in the "What is happening" section.

What is happening?

Currently, UK shareholders hold their Metminco shareholdings, as Depositary Interests ("DI"), which are managed by CPU UK. Individuals do not hold the DIs directly, rather they are beneficially held for the underlying shareholder by a nominee, typically the beneficial holders' CREST Participant Broker ('CREST Broker"). To register the shareholding in Australia:

1. The process of removal requires the CREST Broker to contact their underlying beneficial shareholders to make individual CREST withdrawals into the name of the beneficial owner.

2. After processing in the UK and advising Computershare Investor Services Pty Limited ("CPU AU") in Australia, an SRN is created on the Australian register in the underlying holders' name which is then managed by Link. The DI is converted to Metminco shares on a 1:1 basis.

3. There is a time limit for this to be done voluntarily by the nominee and the underlying beneficial shareholder, being 25 October 2018.

4. After 25 October 2018, CPU UK will make a withdrawal of the balance of the DIs with each CREST Broker and assign to each CREST Broker a single SRN in the name of the CREST Broker to be registered on the Australian share register.

5. Once this occurs, to divest stock to the beneficial owners from the CREST Broker, it will require the lodgement of an off-market transfer form, signed by both parties (CREST Broker & beneficial owner) and lodged with the Australian registrar, Link.

This process is more onerous on the CREST Broker and the shareholder than the voluntary transfer as it will require further verification documentation and associated fees for Link to process. It will also delay the shareholder access to the ASX market. The details of this information can be obtained on Registrars@linkmarketservices.com.au

6. Therefore, the focus is to ensure that the underlying beneficial shareholders have either been contacted by, or contact, their CREST Broker through which their Metminco shares are held to ensure that they are clearly aware of the critical process and time elements regarding the options available to them to transfer their Metminco holdings to the Australian share registry and facilitate trading on the ASX.

7. CPU UK is providing follow-up communications to the nominees stressing the importance of them contacting the beneficial DI Holders, so they are aware of these critical dates over the course of the next week.

8. Link is working with CPU UK and CPU AU to ensure a smooth transfer of holdings to the Australian share register once they have received the advice from the UK shareholder and notification to UK shareholders.

What you need to do?

1. UK shareholders with DI holdings should have received information regarding the transfer of holding from the DI Holder (CREST Broker) and its Nominee after the 19(th) September. If not, they should immediately contact their CREST Broker to ask for the information about converting their beneficial interests into shares registered on the Metminco Share registry in Australia.

2. UK shareholders should instruct their CREST Broker of their requirements to convert their DI into shares by 25(th) October 2018. Thereafter there is a more complicated and costly process effect the transfer. If UK shareholders wish to trade on ASX prior to the Cancellation on AIM they are encouraged to act without delay

3. If UK shareholders then wish to trade their Metminco shares on ASX, they should follow the instructions regarding their options to do so as set out earlier in this announcement.

   4.   If UK shareholders have any questions about the process they should contact CPU UK on www.computershare.com/uk or telephone +44 (0) 370 702 0003 
   5.   If you have queries about Australian registry services in Australia, use Registrars@linkmarketservices.com.au or call in Australia +61 1300 554 474

For further enquiries contact:

Kevin Wilson

Executive Chairman Metminco Limited;

kwilson@metminco.com.au

+61 409 942 355

 
 
   For further information, please 
   contact: 
   METMINCO LIMITED 
   www.metminco.com.au 
 Kevin Wilson                          Mobile: +61 (0) 409 942 
                                        355 
 
 
 
 NOMINATED ADVISOR AND BROKER 
 RFC Ambrian 
  www.rfcambrian.com 
 Australia 
 Andrew Thomson/Alena Broesder         Office: +61 (0) 8 9480 2500 
 United Kingdom- Charlie Cryer         Office: +44 (0) 20 3440 
                                        6800 
 
 
 
 PUBLIC RELATIONS 
 Camarco 
  United Kingdom 
 Gordon Poole / Nick Hennis            Office: + 44 (0) 20 3757 
                                        4997

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END

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