DRA Global (ASX:DRA) will be removed from the Australian Securities Exchange (ASX) at the close of trading on today (6 January) after security holders resolved to remove the company from the official list.
In October, the multi-disciplinary engineering, project delivery, and operations management group announced its intention to delist from both the ASX and the Johannesburg Stock Exchange (JSE) and undertake an off-market equal access share buy-back, subject to obtaining the required shareholder approvals.
Delisting from the primary exchange ASX and secondary exchange JSE are considered to be in the best interests of the company in light of, among others, the low level of trading of shares on both exchanges.
DRA believes the financial, administrative, and compliance obligations and costs associated with maintaining both listings are no longer justified.
The delistings were conditional on obtaining shareholder approval for the buy-back.
DRA Global has delivered more than 8,000 projects, studies, and managed services solutions, and currently operates more than a dozen sites through its operations and maintenance division.
It services the mining, minerals and metals processing industries, as well as related non-process infrastructure such as, water, and energy solutions.
DRA Global also delivers advisory, engineering and project delivery services throughout the capital project lifecycle, from concept through to operational readiness and commissioning as well as ongoing operations, maintenance and engineering services.
DRA covers all major mining centres with offices across Africa and the Middle East, North and South America, and the Asia-Pacific.
Write to Adam Orlando at Mining.com.au
Images: DRA Global
