Sage de-lists from ASX

Two companies led by Perth mining identity Tony Sage, African Petroleum Corporation Ltd and International Petroleum Ltd, will be removed from the official list of the Australian Securities Exchange (ASX) on September 3.

The companies confirmed last Friday they would de-list from the ASX, leaving them listed on the National Stock Exchange, which caters for small to medium and high-tech companies.

Mr Sage first threatened to de-list the companies from the much bigger ASX in April after the ASX blocked International Petroleum's deal to acquire Eastern Petroleum, which was privately held by colourful businessman Frank Timis, saying the merged entity may not comply with its disclosure obligations.

In March the ASX blocked African Petroleum from listing on the bourse due to Mr Timis' involvement.

- AAP