Vancouver, B.C. (FSCwire) - Saville Resources Inc. (TSXv: SRE, FSE: S0J) ("Saville" or the "Company") announces that its common shares are now listed on the Frankfurt Stock Exchange under the symbol S0J. Saville anticipates that this listing will provide the company with increased visibility for its activities in all European capital markets. In addition, the Company has been assigned the Legal Entity Identifier (“LEI”) number 529900CVOND4UPFR7A56. The European Union has adopted regulations that require use of the LEI as a barcode equivalent aimed at pinpointing systemic risks.

 

About the Legal Entity Identifier (LEI)

The Legal Entity Identifier (LEI) number is a 20-digit alphanumeric code.  It is an internationally standardized and globally valid identifier for financial market participants. Its purpose is to clearly and unequivocally identify contracting parties (e.g., companies, banks, and investment funds). It is used to comply with a variety of financial reporting requirements.  The Deutsche Bӧrse Group has stated that “the LEI will clearly assist the regulatory authorities in monitoring and analysing threats to the stability of the financial markets, (but) it can also be utilised by counterparties internally for risk management purposes.”

 

Saville meets the requirement for all companies listed on German Stock Exchanges (ie. Frankfurt Stock Exchange) to have an LEI number by January 3, 2018.

 

According to the website of the Deutsche Bӧrse Group, the LEI number will affect most aspects of the securities markets in Europe, including trading, clearing, settlement, custody, collateral and liquidity management, market data and indices. (See http://deutsche-boerse.com/dbg-en/regulation/regulatorytopics/legal-entity-identifier )

 

ON BEHALF OF THE BOARD

SAVILLE RESOURCES INC.

 

“Mike Hodge”

Mike Hodge

President

Tel:         604.681.1568

Email:    mhodge@savilleres.com  

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/savilleresources11292017.PDF

Source: Saville Resources Inc. (TSX Venture:SRE)

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