An issuer whose primary listing is on the Exchange may only voluntarily withdraw its listing if it gives the Exchange at least 90 days notice and the issuer has obtained the approval of the holders of each class of its listed securities by way of a three quarters majority vote at duly convened meetings of those holders.  |
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|---|---|
| Rule: | I 2.25 |
| Date Requested: | Monday, July 2, 2007 |
| Requested By: | Heritage Gold NZ |
| Date Approved: | Tuesday, July 10, 2007 |
| Approved By: | Compliance Committee |
| Issuer: | HGD |
| Securities: | HGD, HGDOC |
| Description of Rule: | An issuer whose primary listing is on the Exchange may only voluntarily withdraw its listing if it gives the Exchange at least 90 days notice and the issuer has obtained the approval of the holders of each class of its listed securities by way of a three quarters majority vote at duly convened meetings of those holders. |
| Waiver Requested: | The company is concurrently listed on three Exchanges, two of which are in Australia. Following the expiry of its warrants in June 2007, the company has requested delisting from the NSXA market. Given the company maintains listings on two other markets, it submits that no detriment will be caused to shareholders arising from shorter notice period and not seeking shareholder approval. |
| Effect of Waiver: | NSX permits a waiver of NSX Listing Rule Section 1, 2.25 to Heritage Gold NZ Limited provided that the Company gives the NSX market 45 days notice of its intention to delist. |