Karelian Diamond Res. Update on migration of uncertificated shares from CREST
March 12 2021 - 08:30AM
UK Regulatory
TIDMKDR
12 March 2021
Karelian Diamond Resources plc
("Karelian Diamonds" or "the Company")
Update on migration of uncertificated shares from CREST to the Euroclear Bank
system
As previously announced, at the extraordinary general meeting of the Company
held on 17 February 2021 ("EGM") the shareholders of the Company approved
resolutions in relation to the replacement of CREST with a system operated by
Euroclear Bank for the electronic settlement of trading in its Shares.
In accordance with Resolution 1 approved at the EGM, on 17 February 2021 the
board of directors of the Company approved the Company giving its consent to
the Migration of the Migrating Shares to Euroclear Bank's central securities
depository in accordance with the Migration of Participating Securities Act
2019. The requisite notifications in connection with the Migration have also
been made by the Company to the Irish Companies Registration Office and
Euronext Dublin.
Timetable for the Migration
Euronext Dublin announced on 8 March 2021 that Market Migration remains
scheduled to occur over the weekend of 12-15 March 2021, in line with the
indicative timetable that was included in the Company's circular to
Shareholders in relation to the EGM dated 22 January 2021 (the "EGM Circular").
Euronext Dublin has advised that the 'live date' on which Migration is to take
effect is 15 March 2021 and further that this date will be formally appointed
by Euronext Dublin as the Live Date for Migration on 12 March 2021.
Accordingly, no change is anticipated in relation to the timetable set out in
the Company's EGM Circular in respect of Migration.
Euronext Dublin maintains a dedicated web page relating to Market Migration (on
which details of the timetable and other relevant details can be found) at the
following link:
https://www.euronext.com/en/
migration-csd-services-for-irish-securities-crest-euroclear-bank
The Company does not intend to issue any further updates on Migration as it
affects the Company before Migration, save to the extent that there is a
material change to the information previously provided.
For further information please contact:
Karelian Diamond Resources plc
Professor Richard Conroy, Chairman +353-1-479-6180
Allenby Capital Limited (Nomad)
Nick Athanas / Nick Harriss +44-20-3328-5656
Brandon Hill Capital (Broker)
Jonathan Evans +44-20-3463-5000
Lothbury Financial Services
Michael Padley +44-20-3290-0707
Hall Communications
Don Hall +353-1-660-9377
http://www.kareliandiamondresources.com
Note
Capitalised terms used, but not otherwise defined, in this announcement have
the meanings given to those terms in Part 10 of the Circular dated 22 January
2021 and sent to shareholders on 25 January 2021 and also available at News
Releases and Announcements | Karelian Diamond Resources
END
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