Otter Gold to delist from NZSE

By NZPA

Monday 21st October 2002

Australian gold exploration company Otter Gold Mines will be delisted from the New Zealand Stock Exchange on November 1.

The NZSE has advised Otter it does not comply with exchange listing rules because members of the public hold fewer than 25 percent of shares.

Otter is 89 percent owned by Australian mining giant Normandy.

The company said in a statement today that after November 1, its shares will only trade on the Australian Stock Exchange.

"It is the company's intention to remain listed on the ASX as long as it continues to have sufficient minority shareholders or until the minority shareholders resolve to the contrary," the company said.

Otter recorded a full year loss of $24.9 million as a result of foreign exchange losses and a mine closure.

Otter last traded on the NZSE on August 22 at 31c.

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