Kimberley Diamonds receives ASX’s approval for delisting

Kimberley Diamonds Ltd (KDL) has received approval to its application to ASX for removal from the official list. This follows the company’s announcement on 15 December 2016 of applying to the ASX.

The ASX’s formal decision notes that ‘based solely on the information provided, ASX Limited (ASX) agrees to removing the company from the official list, on a date to be decided by ASX in consultation with the company pursuant to Listing Rule 17.11, and subject to certain conditions.

The removal from the official list of ASX must be being approved by ordinary resolution of ordinary security holders of the company and the company is required to invite the shareholders to a meeting for their approval. Also, the meeting is required to be held after a month of the approval being granted.