Lucara Diamond has announced that it has applied for and received conditional approval from Nasdaq Stockholm to commence trading on the Nasdaq First North Growth Market in Sweden.
In a statement to shareholders, Lucara confirmed that the first day of trading on the Nasdaq First North Growth Market is expected to be Friday, January 31, 2025. The company emphasised that its listings on the Toronto Stock Exchange and the Botswana Stock Exchange will remain unaffected by this transition.
On December 20, 2024, Lucara’s Board of Directors approved the transition of the company’s shares from Nasdaq Stockholm to the Nasdaq First North Growth Market. Nasdaq Stockholm has conditionally approved both the delisting of Lucara’s shares from Nasdaq Stockholm and its admission to the Nasdaq First North Growth Market.
The transition is contingent on Lucara meeting several requirements, including fulfilling the distribution share criteria under the Nasdaq First North Growth Market Rulebook, updating its website at least two days before the anticipated trading commencement, and ensuring no material events occur that could prompt a reassessment by Nasdaq Stockholm.
The last day of trading for Lucara’s shares on Nasdaq Stockholm is expected to be January 30, 2025, with the first day of trading on the Nasdaq First North Growth Market set for January 31, 2025. Shareholders have been informed that no action is required on their part in connection with the listing change.
Following the transition, Lucara will continue to publish quarterly interim reports prepared in accordance with IFRS Accounting Standards, including International Accounting Standard 34, Interim Financial Reporting.
“Lucara has a long history of operating in a public environment and will continue to communicate transparently with market participants,” the company stated.
“The Board of Directors has determined that the transition to Nasdaq First North Growth Market is in the best interest of the company, as its market capitalization aligns more closely with this exchange and creates a favorable environment for competing with peer companies.”
Lucara also highlighted that the transition supports its strategic focus on advancing its underground mining project.
