Mar 3 2005
Magnesium International Limited has announced the appointment of advisers to assist the Company’s intended application for a listing of its shares on the Alternative Investment Market (AIM) of the London Stock Exchange.
Evolution Securities Limited has been appointed as broker, with Nabarro Wells & Co. Limited as Nominated Adviser and Faegre Benson LLP as legal counsel in London. MIL has also appointed Computershare Investor Services, Bristol to provide settlement services for trading on AIM through the electronic system CREST. In Australia, Addisons is providing legal counsel and KPMG is the reporting accountant.
MIL will make an Announcement in accordance with Schedule One and its supplement of the AIM rules for the listing. MIL expects to be listed as soon as the necessary documentation is processed, and MIL shares will then be tradeable on the ASX in Australia, AIM in London and the Frankfurt and Xetra exchanges in Germany.
MIL’s Managing Director, Mr Gordon Galt, said today “Listing on AIM, one of the world’s major equity markets, will provide access to a significant international pool of investors and facilitate the raising of equity capital for our Egyptian magnesium smelter project later in 2005. We believe that MIL will represent a unique opportunity for investors to gain exposure to the rapidly growing magnesium alloy industry via a primary producer using proven technology developed by Dow Chemical. We have selected a strong team to help us with the AIM listing process and future fundraising.”
Mr Galt added that “The appointment of Evolution Securities as our broker was based on their ability to undertake the AIM listing, provide support for the company with investors through the Bankable Feasibility Study stage of our Egyptian magnesium smelter project and play the major role in the final equity capital raising. Evolution was the AIM broker of the year in 2004 and has demonstrated that it has significant placing power with 16 flotations and numerous secondary equity raisings. Evolution has a strong market position in the resources sector in research, sales and trading.”
“Our other London based advisers, Nabarro Wells & Co. Limited and Faegre & Benson LLP, were chosen because of their extensive experience in AIM flotations and listings with demonstrated knowledge of the international resources sector.”
www.mgil.com.au