Notice to holders of Icelandic Depository Receipts Simplification and streamlining of Amaroq’s securities under a single ISIN
Rhea-AI Summary
Amaroq (OTCQX: AMRQF) will convert Icelandic Depositary Receipts (IDRs, ISIN IS0000034569) into Depositary Interests (DIs) to unify its equity under a single ISIN (CA02311U1030).
The change is technical: underlying Canadian shares, shareholder rights (dividends, voting, corporate actions) and trading on Nasdaq Iceland in ISK remain unchanged. IDRs issued by Arion Banki will be discontinued and replaced by DIs issued by Computershare, affiliated into Nasdaq CSD Iceland via CREST. Conversion will be automatic and investors do not need to act. The company will announce the effective date after operational arrangements are complete.
Positive
- Iceland holdings unified under single ISIN CA02311U1030
- Conversion is automatic—investors do not need to act
- Trading on Nasdaq Iceland continues in ISK with no interruption
- Shareholder rights (dividends, voting, corporate actions) remain unaffected
Negative
- Existing IDR programme (ISIN IS0000034569) will be discontinued
- Effective date is pending—conversion occurs after operational arrangements
News Market Reaction
On the day this news was published, AMRQF declined 8.10%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Reykjavík, Oct. 21, 2025 (GLOBE NEWSWIRE) -- Amaroq Ltd.
(“Amaroq” or the “Company”)
Notice to holders of Icelandic Depository Receipts
Simplification and streamlining of Amaroq’s securities under a single ISIN
TORONTO, ONTARIO – 21 October 2025 – Amaroq Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), announces that its Icelandic Depositary Receipts (“IDRs”) (ISIN IS0000034569), currently issued by Arion Banki hf., will be automatically converted into Depositary Interests (“DIs”). The DIs, issued by Computershare Investor Services PLC and affiliated into Nasdaq CSD Iceland through its link with CREST, will unify Amaroq’s equity securities under a single ISIN. This simplification streamlines cross-border settlement and administration, while ensuring Icelandic investors continue trading on Nasdaq Iceland in ISK, as before. As Depositary Interests replicate direct shareholding, the change is a technical adjustment only, with no impact on underlying shares or investor rights.
What is changing?
- The IDR programme operated by Arion Banki hf. will be discontinued.
- Instead of IDRs, investors will hold securities entitlements through Depositary Interests (DIs), which are dematerialised securities, representing Amaroq’s Canadian common shares.
- DIs are a standard form of security in the UK that allow overseas shares to be held and trades settled through CREST. In Iceland, these DIs will be affiliated into Nasdaq CSD Iceland, so they appear and function in the same way as any other securities held in Icelandic custody.
- The change ensures that shareholders’ holdings in Iceland will now be under the same ISIN as the Company’s Canadian shares and DIs (CA02311U1030).
- On the effective date, IDRs (IS0000034569) will be removed from investor accounts in Nasdaq CSD Iceland, and an equivalent number of DI entitlements (CA02311U1030) will be automatically credited.
What is not changing?
- The underlying Canadian shares remain exactly the same.
- Shareholder rights and entitlements (dividends, voting and corporate actions) remain unaffected and will be processed through Nasdaq CSD Iceland.
- The Company’s AIM listing remains unaffected, and trading will continue as usual.
- Trading on Nasdaq Iceland continues as before, in ISK, with no interruption.
- Investors do not need to take any action - the conversion will be automatic.
Effective date and further information
The conversion from IDRs to DIs will take effect following completion of the necessary operational arrangements. The Company will announce the effective date and provide further practical details for investors once confirmed in coordination with all relevant parties, including Nasdaq CSD Iceland, Arion Banki and Computershare Investor Services PLC.
For technical information or to prepare internal procedures ahead of the conversion, custodians may contact Nasdaq CSD Iceland at csd.iceland@nasdaq.com.
Enquiries:
Amaroq Ltd. c/o
Ed Westropp, Head of BD and Corporate Affairs
+44 (0)7385755711
ewe@amaroqminerals.com
Eddie Wyvill, Corporate Development
+44 (0)7713 126727
ew@amaroqminerals.com
Panmure Liberum Limited (Nominated Adviser and Corporate Broker)
Scott Mathieson
Freddie Wooding
+44 (0) 20 7886 2500
Canaccord Genuity Limited (Corporate Broker)
James Asensio
Harry Rees
Tel: +44 (0) 20 7523 8000
Camarco (Financial PR)
Billy Clegg
Elfie Kent
Fergus Young
+44 (0) 20 3757 4980
amaroq@camarco.co.uk
For Company updates:
Follow @Amaroq Ltd. on X (Formerly known as Twitter)
Follow Amaroq Ltd. on LinkedIn
Further Information:
About Amaroq
Amaroq’s principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company’s principal asset is a
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Inside Information
This announcement does not contain inside information.
FAQ
What will happen to Amaroq (AMRQF) IDRs on Nasdaq CSD Iceland after October 21, 2025?
Do Amaroq (AMRQF) shareholders in Iceland need to take any action for the IDR-to-DI conversion?
Will the Amaroq (AMRQF) conversion change shareholder rights like dividends or voting?
Which institutions are involved in Amaroq's (AMRQF) securities simplification?
Will trading of Amaroq (AMRQF) on Nasdaq Iceland be interrupted during the conversion?
When will Amaroq (AMRQF) announce the effective date for the IDR-to-DI conversion?
