MOSCOW, June 25. /TASS/. Solidcore Resources (ex-Polymetal) applied for delisting of its stocks from the Moscow Exchange (MOEX), the gold miner said.

" In the light of the recent OFAC sanctions on the Moscow Exchange, the Board of the Company has determined its firm intent to delist the Company’s shares from MOEX. The application requests that the trading in the Company’s shares on MOEX will terminate on 30 September 2024," the company informed. "The effective delisting date will be announced by the Moscow Exchange after review of the application and may differ from the above-mentioned date," it noted.

Company stocks will not be available for organized trading on the Moscow Exchange, after delisting, Solidcore Resources said. The company will keep the listing of its stocks on AIX, the primary trading platform.

"OFAC sanctions against MOEX, and associated risks of continuing listing for Solidcore, as well as severely restricted shareholder rights for the shareholders on MOEX, undermine the case for Solidcore’s MOEX listing. Further, the Company does not have any Russian nexus following the sale of the Russian assets in March 2024. Therefore management and the Board have decided to immediately apply for the listing cancellation", said Vitaly Nesis, Group CEO of Solidcore Resources.