[miningmx.com] – ATLATSA Resources said it would delist its shares from the New York Stock Exchange in an effort to further contain costs and owing the fall in the value of its share price.
The firm said listing rules in New York “… with respect to the maintenance of a minimum share price” could require the company to undertake certain corporate actions that “… may not be in the best interest of the company or its shareholders”.
Shares in Atlatsa Resources have fallen 73% in the last year amid poor trading conditions for platinum. It announced recently that a transaction with shareholder Amplats, which would have bolstered cash flow, had been called off.
The company’s shares would remain listed on the Toronto and Johannesburg stock exchanges, Atlatsa said.
