African Copper Plc
TSX : ACU
AIM : ACU

African Copper Plc

February 17, 2009 02:00 ET

African Copper Plc: Press Release

LONDON, UNITED KINGDOM--(Marketwire - Feb. 17, 2009) - African Copper plc ("African Copper" or "The Company") (AIM:ACU)(TSX:ACU)(BOTSWANA:AFRICAN COPPER) announces that the Toronto Stock Exchange ("TSX") is reviewing the eligibility of the Company's ordinary shares (the "Shares") for continued listing on the TSX. The TSX has indicated that the financial condition and/or operating results of the Company may be unsatisfactory or may not warrant continued listing of the Shares. In particular, it appears to the TSX that: (i) the Company's financial condition is such that it may not be able to continue as a going concern; and (ii) the Company may not have adequate working capital and an appropriate capital structure to carry on its business. The TSX has also indicated that it appears that the public distribution, price or trading activity of the Shares has been so reduced as to not warrant continued listing.

The Company must satisfy the TSX that it meets all applicable requirements for continued listing set out in Part VII of The Toronto Stock Exchange Company Manual by March 13, 2009. Should the TSX decide to delist the Shares, the Shares will be delisted on or about April 13, 2009. If the Shares are delisted from the TSX, the Company may decide not to apply to list the Shares on another Canadian stock exchange, in order to conserve working capital. Under these circumstances, however, the Shares will continue to be listed on AIM.

Contact Information

  • African Copper Plc
    Chris Fredericks
    Chief Executive Officer
    +27 (11) 467 2360
    Email: cfredericks@africancopper.com
    or
    African Copper Plc
    Brad Kipp
    Chief Financial Officer
    (416) 847-4866
    Email: bradk@africancopper.com
    Website: www.africancopper.com
    or
    Numis Securities Limited
    John Harrison
    Nominated Advisor
    +44 (0)20 7260 1000
    or
    Numis Securities Limited
    James Black
    Corporate Broker
    +44 (0)20 7260 1000