Helium and natural gas producer Renergen will be delisted from the JSE on January 12, formally ending the South African energy company’s listing after regulators cleared its takeover by US-based ASP Isotopes.
The delisting follows confirmation that the takeover regulation panel has issued its compliance certificate, allowing the scheme of arrangement to move to implementation. Renergen’s shares will also be removed from the A2X and the Australian Securities Exchange.
Trading in Renergen shares on the JSE will be suspended from December 30, after which shareholders will no longer be able to trade the stock. Investors will instead receive shares in ASP Isotopes, which will become their new listed holding.
ASP Isotopes’ shares will begin trading on the JSE on December 30, but South African investors will only be able to trade their holdings from December 31. The one-day gap allows the transfer of shares between the US and South African financial systems.
The share exchange will be completed on January 6, when ASPI shares are delivered to former Renergen shareholders. Cash payments for fractional share entitlements will be made in early January, with final payments to some shareholders extending into mid-January.
Once the scheme is implemented, Renergen will cease to exist as a listed company. ASPI will remain the sole listed entity, trading on Nasdaq and the JSE, while Renergen exits public markets entirely.
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