Polo Resources Limited: Listing on the Bermuda Stock Exchange

Voluntary TSX Delisting

TORONTO–(BUSINESS WIRE)– Polo Resources Limited (AIM, TSX: POL) (“Polo” or the “Company“), the natural resources investment company with interests in gold, oil and gas, coal and iron ore, today announces that it has received approval for the listing of its ordinary shares on the Bermuda Stock Exchange (“BSX“). The Company’s ordinary shares commenced trading on the BSX on 4 April 2013 under the symbol POL:BH.

Following the receipt of approval to list on the BSX, the Company has also applied for a voluntary delisting from the Toronto Stock Exchange (“TSX“). Following the listing on BSX and delisting from the TSX, Polo’s ordinary shares will be listed for trading on the AIM market of the London Stock Exchange (“AIM“) and listed on the BSX.

The BSX is listed as a recognised exchange under the United Kingdom Income Tax Act, 2007 enabling Polo shares to be held by Individual Saving Accounts (“ISAs”).

Neil Herbert, Executive Co-Chairman and Managing Director, said: “We believe that the ability to hold shares through ISAs is very attractive to our many retail shareholders and that was a key factor in our decision to list on the BSX, where they can continue to do so.”

Voluntary delisting from the TSX

The Company’s board has decided that the costs of maintaining the TSX listing are not in the best interests of the Company’s shareholders. Subject to the application being accepted by the TSX, it is expected that the ordinary shares will be delisted from the TSX at the close of trading on 5 April 2013.

No change will occur to Polo’s ordinary shares on AIM, which will continue to be listed and trade as normal under the symbol “POL”. Following delisting from the TSX, the Company may apply to the applicable securities commissions in Canada for cessation of the Company’s reporting issuer status and the Canadian register will be closed.

Implications of the delisting for shareholders on the Canadian branch register only

As a consequence of the TSX delisting, and prior to the closing of the Canadian branch register, shareholders currently on the Canadian branch register …read more

Source: FULL ARTICLE at DailyFinance