Sirius Real Estate Ltd. expects to cease the trading of its ordinary shares on London's AIM and on the Johannesburg Stock Exchange's AltX on or around March 6.
The company intends to file an application for the admission of its common stock on the premium segment of the official list of the U.K. Listing Authority and to the London Stock Exchange's Main Market. Additionally, the company received approval to transfer its shares from AltX to trade on the Johannesburg bourse's Main Board for listed securities.
Sirius said the transfers will provide a more appropriate platform for its continued growth, placing the company in a better position to improve liquidity in its common stock due to the higher number of institutional investors trading on the Main Market and the Main Board of the respective stock exchanges.
The shareholders of the company were advised to change the trading currency of shares from euro to pound sterling on the London Stock Exchange, on and from the admission date. The company will hold an extraordinary general meeting Feb. 23 to solicit approval from shareholders for the plan.