Exploring Possibility of a Dual Listing on LSE
Sydney, May 25, 2021 AEST (ABN Newswire) - PYX Resources Limited (
NSX:PYX) is pleased to announce that it is exploring a possible dual listing of the Company's ordinary shares on the Standard Segment of the Official List of the Financial Conduct Authority ("FCA") and to trading on the Main Market of the London Stock Exchange ("LSE") (the "LSE Listing").
The exploration of available listing options is driven by PYX's increased interest and demand from family offices and institutional investors in Europe. A potential LSE Listing would make it easier for our existing shareholders to participate in the growth of the Company and its business, as well as enhancing the Company's share liquidity.
PYX, has appointed VSA Capital Limited ("VSA"), a natural resource focused investment banking and broking firm as Financial Adviser and Broker in connection with the potential LSE Listing.
Should the Company decided to proceed with the LSE Listing, subject to market conditions, the Company is considering undertaking an investor roadshow in the second half of 2021.
Subject to the necessary approvals of the FCA and the LSE it is expected that, if progressed, any proposed LSE Listing would be completed, and PYX shares would commence trading on the LSE, in late 2021.
PYX will retain its existing National Stock Exchange of Australia (NSX) listing as the Company's primary listing.
The Company will keep the market informed of progress on the LSE Listing.
PYX's Chairman and Chief Executive Officer, Oliver Hasler, said: "PYX is going through some very exciting times, with increasing demand for premium zircon continuing to push zircon prices higher.
The LSE is a leading destination for natural resources companies and has a strong network of brokers, analysts and institutional investors with a deep knowledge of the global mineral sands market.
Admission of PYX's shares to the Standard Segment of the Official List and to trading on the Main Market of the LSE would provide a platform to significantly broaden the Company's investor base to include institutional and other investors, as well provide as access to a highly liquid market."
About Pyx Resources Limited
PYX Resources Limited (NSX:PYX) (LON:PYX) is a global producer of premium zircon listed on the National Stock Exchange of Australia and the London Stock Exchange. The Company's flagship asset is the Mandiri mineral sands deposit, located in the alluvium sediment rich region of Central Kalimantan, Indonesia. Boasting the world's 5th largest producing deposit of zircon, PYX is a large-scale, near-surface open pit operation in production since 2015 and with exploration to date validating the presence of additional Valuable Heavy Minerals such as rutile, ilmenite among others within its mineral sands.
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