Dragon Resources Reorganisation Takes Effect, New Hong Kong-Domiciled Company Starts Trading

Dragon Resources (01712) said its previously arranged restructuring took effect today, with the former holding company renamed Dragon Gold Resources and redomiciled from Australia to Hong Kong. The listing status of the former Dragon Resources was withdrawn at 9:00 AM today, while shares of the new holding company, Dragon Gold Resources, began trading on the Main Board by way of introduction under the same stock code, 1712, according to ETNet. Under the restructuring plan, all shares in the former holding company were cancelled, and shares in the new holding company were allotted and issued to the company before being transferred to scheme shareholders. For ineligible overseas shareholders, the group arranged for the relevant new shares to be sold in the market through a sales agent, with net proceeds remitted to the relevant shareholders.