Atalaya Mining PLC on Monday reported it expects to commence trading as a Spanish company on Friday, following its proposal to re-domicile to Spain from Cyprus.

The Nicosia, Cyprus-based copper exploration company said it filed a cross-border conversion deed with the Spanish Commercial Registry on December 27. It expects confirmation of the deed on Thursday, which will complete re-domiciliation with retrospective effect from December 27.

Atalaya will be renamed Atalaya Mining Copper SA and its corporate seat will be transferred to Seville. Holders of depositary interests, which are to be cancelled, will receive CREST depositary interest shares, which will continue trading in GBP but maintain a nominal value of €0.09 each consistent with underlying shares.

The company expects trading to continue as normal throughout the re-domiciliation process.

Atalaya owns regional mining projects around Riotinto in southern Spain. It also has an earn-in agreement for 80% of Cobre San Rafael SL, owner of northwest Spain’s Proyecto Tourou brownfield copper venture, and a 99.9% interest in Proyecto Ossa Morena.

Shares in Atalaya Mining were up 1.1% at 369.00 pence each on Monday morning in London.

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