Rockwell Diamonds expects this concurrent delisting and relisting to take place on or about August 31, 2017.
As disclosed previously, Rockwell Diamonds had decided in April to seek to delist from the TSX in view of its current market capitalisation, and to initiate the application process for listing on the TSXV, however, considering the current status of its South Africa subsidiaries the decision has been made to list on the NEX.
The NEX is a separate board of TSX Venture Exchange.
It provides a trading forum for listed companies that have fallen below TSX and TSX Venture’s ongoing listing standards, or are companies that have low levels of business activity or have ceased to carry on active business.
Trading of RDI shares on the Toronto Stock Exchange and Johannesburg Stock Exchange was halted, pending the outcome of the hearing on the merits of the liquidation application against Rockwell Diamonds’ three subsidiaries, which has now been postponed to November 3, 2017 in view of the business rescue proceedings.
Rockwell Diamonds however, remains in full compliance with its securities regulatory requirements.
The business rescue practitioners continue to work towards delivering a business rescue plan on or before September 30, 2017.
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