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Regulatory News


Cancellation of Trading and Listing

Fri, 6th Oct 2017 16:51


RNS Number : 9883S
Banque Internationale Arabe Tunisie
06 October 2017
 

BANQUE INTERNATIONALE ARABE DE TUNISIE (BIAT)

 

October 5th, 2017

 

RNS Announcement

 

 

Sub: Termination of Global Depositary Receipt ("GDR") program and cancellation of admission to official list of United Kingdom Listing Authority ("UKLA") and cancellation of trading and listing of GDRs on the Main Market of London Stock Exchange plc ("LSE")

 

Ref.: Termination of Deposit Agreement, executed between Banque Internationale Arabe de Tunisie ("the Issuer"), Bank of New York Mellon ("Depositary"), Holders, Owners and Beneficial Owners of International GDRs, and Rule 144A Deposit Agreement, executed between the Issuer, Depositary, Holders, Owners and Beneficial Owners of 144A GDRs, both dated February 17, 1998 ("Deposit Agreements") 

 

With regard to the captioned matter, and in pursuance thereto, we hereby request you to cancel admission of GDRs to the official list of UKLA and also cancel the trading and listing of GDRs on the Main Market of the LSE under LR 5.2.8 of the FCA Handbook, with effect from November 3, 2017.

 

1.   Name and registered office address of the Issuer:

 

BANQUE INTERNATIONALE ARABE DE TUNISIE (BIAT)

Registered office address:

70-72, Avenue Habib Bourguiba

1080 Tunis (Tunisia)

http://www.biat.com.tn/

 

2.   Securities subject to cancellation of listing and trading:

 

The GDRs are Regulation S GDRs and Rule 144A GDRs, each representing 1/2 (One half) of ordinary share in the share capital of the Issuer of 10 TND (Ten Tunisian Dinars) each in nominal value. The GDRs are currently traded on the Main Market of the LSE as per the details given hereunder:

 

Type of GDR

ISIN Number

Symbol

Regulation S GDRs

US06675A2078

BIND

Rule 144A GDRs

US06675A1088

96LE

 

 

3.   Reasons for cancellation of listing and trading:

 

Further to the Ordinary General Meeting held on May 24, 2017, the shareholders of Banque Internationale Arabe de Tunisie ("BIAT") authorized BIAT to proceed to the delisting of its GDRs from the LSE due to the low volume of the GDRs which represent 0.018% of its share capital, and to terminate the Deposit Agreements of such GDRs.

 

Based on the foregoing, BIAT sent on July 19, 2017 a letter giving instruction to Bank of New York Mellon (the "Depositary") to terminate the Deposit Agreements dated February 17, 1998, in accordance to Section 6.02 of the Deposit Agreements.

 

In the light of the above, the Depositary published on August 1, 2017 a notice for the termination of Deposit Agreements and GDR program. Consequently, admission of GDRs to official list of UKLA needs to be cancelled and trading and listing of GDRs on the Main Market of the LSE also needs to be cancelled.

 

4.   Schedule of cancellation of listing and trading:

 

The cancellation of trading and listing of GDRs on the Main Market of the LSE shall be effective from November 3, 2017 (the "Delisting Date").

 

From and including the Delisting Date, holders of GDRs will no longer be able to trade their GDRs on the Main Market of the LSE.  The GDRs will not be listed or traded anywhere after the Delisting Date.

 

5.   The name and contact details of the person at the Issuer with whom Financial Conduct Authority should liaise:

 

Mr. Mohamed Agrebi

General Manager

Banque Internationale Arabe de Tunisie

70-72, Avenue Habib Bourguiba

1080 Tunis (Tunisia)

Tel.: +216 31 31 15 21

Fax: +216 71 34 07 88

Email: mohamed.agrebi@biat.com.tn

Mr. Ali Ben Khaled

Director of Legal Department

Banque Internationale Arabe de Tunisie

70-72, Avenue Habib Bourguiba

1080 Tunis (Tunisia)

Tel.: +216 71 13 22 17

Mobile: +216 24 95 04 71

Fax: +216 71 25 58 42

Email: ali.benkhaled@biat.com.tn

 

 

Yours faithfully,

 

For Banque Internationale Arabe de Tunisie

 

Mr. Mohamed Agrebi

General Manager

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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