SSR Mining to Delist from ASX

By Bobby Samwell • Monday, March 03 10:05 • Permanent Link

SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) has announced its decision to voluntarily delist from the Australian Securities Exchange (ASX) due to low trading volumes compared to the NASDAQ and the TSX. The company's Chess Depositary Interests (CDIs) on the Australian register have declined to approximately 1.74% of the total issued share capital as of January 31, 2025.

The delisting is expected to occur on April 8, 2025. Following the delisting from the ASX, the company's common shares will continue to be traded on the NASDAQ and the Toronto Stock Exchange under the trading symbol 'SSRM'.

CDI holders have various options available to them, including converting CDIs into shares listed on the TSX and NASDAQ on a 1:1 basis, selling CDIs on the ASX, participating in a voluntary sale facility, or engaging in a compulsory sale process.

The voluntary sale facility will allow CDI holders to sell their CDIs, with the proceeds remitted to them in Australian dollars or New Zealand dollars. Additionally, CDI holders who would like to receive their proceeds in other currencies will be able to enroll in a global wire service provided by Computershare.

The company has also outlined the compulsory sale process, which will be initiated for any remaining CDI holders who have not opted for the voluntary sale facility. In this process, a broker will effect the sale of shares on behalf of the CDI holder on the NASDAQ or TSX, with the sale proceeds remitted to the CDI holder in the applicable currency.

SSR Mining Inc. has provided a proposed timetable for the delisting process, including key dates such as the suspension date for CDIs on the ASX (April 4, 2025) and the delisting date (April 8, 2025).

The company has emphasized that CDI holders opposed to the delisting may apply to a court in British Columbia, Canada under the British Columbia Business Corporations Act (BCBCA) on the basis that the delisting is oppressive or unfairly prejudicial to the CDI holder, or group of CDI holders.

Today the company's shares have moved -1.1% to a price of $9.88. For more information, read the company's full 8-K submission here.

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