Forsys Metals Corporation will begin trading on the Namibian Stock Exchange under its new name, Asarian Energy Limited, from Wednesday as the uranium developer aligns its Namibian listing with a corporate name change that has already taken effect in Canada.
The company said on Monday that Tuesday, 25 August, will be the last day its shares trade on the NSX under the Forsys Metals name and the FSY share code, bringing the Namibian market into line with a rebranding that became effective on the Toronto Stock Exchange on 12 August.
Trading on the NSX under Asarian Energy Limited will begin on 26 August with a new share code, AAE, and a new ISIN code, CA04342X1069.
The change is significant for Namibia because Forsys’ principal assets are the Norasa uranium project, comprising the Valencia and Namibplaas deposits in the Erongo Region.
The company has spent years advancing the deposits towards development, making the name change more than simply a Canadian corporate rebranding for Namibian investors, who will now encounter the company developing the projects under the Asarian Energy identity.
The NSX timetable provides for 28 August as the record date for the name change, followed by the issue of securities under the new name on 31 August.
In Canada, the transition is already complete. Forsys became Asarian Energy Limited for trading purposes on the TSX on 12 August, changing its ticker from FSY to ARN and adopting a new CUSIP number of 04342X 10 6.
The different ticker symbols mean the same company will trade as ARN in Toronto and AAE in Namibia.
Chief executive John Borshoff confirmed the Namibian timetable on behalf of the board.
The company remains registered as an external company in Namibia, with its local registered office at Valencia Uranium in Windhoek.
