The Chairman of Magnesium International Limited (MIL), David Karpin, AM, today announced details of the Company’s proposed listing on London’s Alternative Investment Market (AIM). “MIL is lodging its Announcement in accordance with Schedule One and its supplement of the AIM rules for the listing today,” Mr Karpin said. “Our first trading day on AIM is therefore expected to be 5 May.”
MIL is listing on AIM, one of the world’s major equity markets, to ensure that the Company has access to the large international pool of investors in the AIM market. “We believe that MIL represents an excellent opportunity for investors to gain exposure to the rapidly growing magnesium alloy industry via a primary producer using proven electrolytic technology. Work on the Bankable Feasibility Study stage of our Egyptian smelter project is progressing on schedule and we are aiming to reach Financial Close towards the end of this calendar year.” Mr Karpin said.
MIL has previously announced details of its AIM advisory team. It includes Evolution Securities as broker, Nabarro Wells & Co. Limited as Nominated Adviser and Faegre & Benson LLP as legal counsel. 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.