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PERTH - Future Metals NL (ASX | AIM:FME) announced Tuesday it will cancel its admission to trading on the AIM market of the London Stock Exchange, with the delisting expected to take effect on November 5, 2025.
The company, which has maintained its primary listing on the Australian Securities Exchange (ASX) since being admitted to AIM in October 2021, cited insufficient value to shareholders as the main reason for the delisting decision.
In a press release statement, Future Metals highlighted several factors behind the move, including challenging capital raising conditions in the UK, low trading volumes and liquidity on AIM, and the costs and regulatory burden of maintaining dual listings.
The company emphasized that its shares will continue to trade on the ASX with no plans to delist from the Australian exchange. Following the AIM cancellation, holders of Depositary Interests (DIs) will have their holdings transferred on a one-to-one basis to the company’s Australian share register, allowing them to trade shares on the ASX.
The DI facility will close on November 12, 2025, after which remaining DI holders will automatically have their holdings transferred to the Australian register in issuer-sponsored form. To trade shares on the ASX after the transfer, former DI holders will need to engage a broker capable of placing and settling trades in Australia.
As Future Metals will remain listed on the ASX, which is an AIM Designated Market, shareholder approval for the cancellation is not required under AIM Rules.
The company advised DI holders to seek independent financial and tax advice regarding the implications of the AIM cancellation.
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