Ordinary shares to continue trading on AIM
TORONTO,
July 5, 2013 /CNW/ - Patagonia Gold
Plc (TSX: PAT, AIM: PGD), the gold producer and advanced mining
exploration company with gold and silver projects in the southern
Patagonia region of Argentina,
today announced it has provided written notice to the Toronto Stock
Exchange requesting the delisting of its ordinary shares from the
TSX.
The Company has received confirmation from the TSX that its
ordinary shares will be delisted from the TSX with effect from the
close of business on July 12,
2013.
Following the delisting from the TSX, Patagonia Gold's ordinary
shares will continue to be traded on the AIM market of the London
Stock Exchange under the trading symbol PGD.
The Directors believe the minimal trading volume of its shares
on the TSX no longer justifies the expenses and administrative
efforts associated with maintaining this dual listing. The
Directors believe that Patagonia Gold's listing on AIM provides its
shareholders with sufficient liquidity, as AIM accounts for nearly
all of the Company's current trading volume. Further, the Directors
believe that administrative and regulatory efficiencies will be
achieved by focusing on the single listing.
The Directors believe that the voluntary delisting will have no
impact on the Group's ongoing operations, nor on its ability to
raise further funds, if required, in the future to progress
continued development of the Group's projects. The Directors also
believe that shareholders will benefit from the simplified focus
and lower cost resulting from the maintenance of only the Company's
original AIM listing.
About Patagonia Gold
Patagonia Gold Plc is an advanced mining exploration company that
seeks to grow shareholder value through the acquisition,
exploration and development of gold and silver projects in the
southern Patagonia region of Argentina. The Company is primarily focused on
the development of three projects: the flagship Cap-Oeste project,
the nearby COSE project and the Lomada heap leach project, which is
expected to begin generating free cash flow by 2013. Patagonia
Gold, indirectly through its subsidiaries or under option
agreements, has mineral rights to over 220 properties in several
provinces of Argentina and
Chile, and is one of the largest
landholders in the province of Santa
Cruz.
Patagonia Gold is listed on the Toronto Stock
Exchange (TSX) under the symbol PAT and has been listed on the AIM
market of the London Stock Exchange under the symbol PGD since
2003.
SOURCE Patagonia Gold plc