The Australian Securities Exchange (ASX) has approved Kimberley Diamonds’ request to be delisted, according to Diamond World. Kimberley Diamonds hopes that the move will help it reduce costs and ease fundraising.
According to ASX’s formal decision, the delisting must be approved by “ordinary resolution of ordinary security holders of the company and the company is required to invite the shareholders to a meeting for their approval”. The meeting is required to be held after a month of the approval being granted.
Kimberley, which owns the Lerala mine in Botswana, applied to be removed from the exchange in November.
