Lundin Mining Corporation declared newly that it has obtained the approval and registration with the Swedish Financial Supervisory Authority (the “FSA”) of a prospectus (the “Swedish Prospectus”), which has been filed on the Company’s website.
The Swedish Prospectus was prepared and filed in order to permit the admission to trading of the Company’s shares directly on Nasdaq Stockholm following the conversion of Swedish Depository Receipts (“SDRs”) to shares.
Following this conversion process, the Company’s shares will be dual listed on TSX and Nasdaq Stockholm. No new shares are being issued by the Company in connection with the Nasdaq Stockholm listing or in connection with the Swedish Prospectus.
In accordance with the Company’s previous announcement, the record date for the conversion of the SDRs in the Swedish VPC register shall be June 9, 2017. Pareto Securities AB will, in accordance with the VPC plan for conversion of securities, deliver the underlying shares of the Company to the holders of the SDRs entitled to receive such shares.
Holders of the SDRs do not need to take any action as all SDRs will be converted automatically to shares of the Company. Further information on the SDR conversion procedure can be found in the Swedish Prospectus.
The first day of trading of shares on Nasdaq Stockholm is expected to be June 8, 2017. The last day of trading of the SDRs is expected to be June 7, 2017. The trading symbol for the shares on Nasdaq Stockholm will be “LUMI”.
The shares underlying the SDRs are expected to be credited on June 12, 2017, after which Euroclear Sweden AB (“Euroclear”) will send out account statements to those who held SDRs on the Record Date and received shares on owner registered accounts (Sw. VP-accounts).
Those who have their holdings registered with a bank or other nominee will receive information in accordance with each nominee’s procedures.
To execute the above, a halt for cross border transfers will be applied from and including June 5, 2017 from which date shares cannot be deposited with Pareto and deposited shares cannot be withdrawn. Accordingly, from and including June 5, 2017 a shareholder on the TSX cannot deposit their shares with Pareto for trading in SDRs on the Nasdaq Stockholm and a SDR holder cannot withdraw their underlying shares from Pareto for trading on the TSX.
Following the SDR conversion, cross border trades will take place via Euroclear. The first possible day for cross border trades in shares is expected to be June 12, 2017. Holders of shares are advised to contact their nominee or bank.
Lundin Mining is a diversified Canadian base metals mining company with operations in Chile, the United States of America, Portugal, and Sweden, primarily producing copper, nickel and zinc. In addition, Lundin Mining holds an indirect 24 percent equity stake in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland.