Diversified Resources Company Based in Australia
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Adelaide, South Australia (PRWEB) June 09, 2011
The Directors of Astra Mining Ltd (Astra) are pleased to announce they have signed a Listing Agreement with Gebo Equity Management Pty Ltd and Stepping Stone Equity Pty Ltd (collectively the Consultants) to assist it with its listing on the Frankfurt Stock Exchange. The listing agreement is unconditional except for approval by Astra shareholders and any force majeure situation.
Whilst several commercial projects are to be completed by Astra in the next couple of months, including its joint venture to produce gold in Vietnam and its joint venture to produce coal in Nigeria, the Directors believe with the assistance of the Consultants it would be a favourable time in the short term to list a UK public listed vehicle on the Frankfurt Stock Exchange.
‘Listing on the Frankfurt Stock Exchange will benefit all shareholders due to the greater reach the European stock market has, which will result in increased visibility for the Company, the ability to access capital markets and the increased efficiency of trading. There is the intent that the Company may dual list in the future, however this is yet to be determined,’ said Dr Jaydeep Biswas, Chief Executive Officer of Astra Mining Ltd.
An EGM of Astra will be called prior to the conclusion of this financial year where the Directors will seek the approval of its shareholders to the share swap of the Astra shares for shares in the listed vehicle company on a one for one basis. At such meeting, a full account of the proposed listing will be provided by the Directors to the shareholders.
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