Johannesburg — JUNIOR resources company Gold One International said yesterday its shareholders had "overwhelmingly" approved a resolution to change the company's listing status on the JSE from primary to secondary.

The company, which is also listed in Australia, said the dual primary listing required that Gold One comply fully with the provisions of the JSE listings requirements and the Australian listing rules.

The costs and administrative requirements associated with it having to fully comply with the requirements and rules of two different exchanges were significant, and it believed its shareholders' best interests would not be prejudiced by the JSE conversion.

The reclassification on the JSE system will be effected on Monday.

"The vote is by no means a reflection of the quality of shareholders on the JSE or the exchange itself, but simply a vote of confidence in our future corporate strategy, which will be beneficial for all our shareholders," said CEO Neal Froneman.