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LONDON - Richmond Hill Resources Plc (AQSE:SHNJ) announced Monday its plans to transfer from the Aquis Growth Market to the AIM Market of the London Stock Exchange, according to a company press release.
The natural resources company has released a Schedule One announcement with the London Stock Exchange regarding the proposed admission of its ordinary shares to AIM trading and the simultaneous cancellation of its listing on the Aquis Growth Market.
Richmond Hill’s board stated the move to AIM is intended to take advantage of "improved liquidity and access to investors" for natural resources companies, citing a "recent much improved market in natural resources not least including copper."
The company confirmed it will raise new capital as part of the admission process. Richmond Hill currently has 104,649,639 ordinary shares in issue and will change its trading symbol to "RHR" upon admission to AIM, while maintaining its existing ISIN number GB00BNTBWF32.
An AIM Admission Document will be published prior to the transfer, which will be available on the company’s website. Richmond Hill indicated it will provide further updates regarding the timing of the market transfer in upcoming announcements.
The company did not specify an exact date for the planned market transition in its statement.
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