Another One Looking to Bite the Dust6 Dec 2023 08:16
Our time is coming folks.
TUI's announcement this morning for CityAM to cover - TUI has shown super recovery this year along with the full of the travel industry and was taken down from 600p to 400p at one point this year.
"Considerations of the appropriate long-term listing arrangements for TUI AG
TUI has been recently approached by certain shareholders to discuss and understand whether the current listing structure is optimal and advantageous for the Company, and if the simplification of the listing structures and an inclusion in the MDAX would be beneficial for TUI. This is against the background, that in the period since the completion of the merger with TUI Travel and, more significantly in the past four years, the ownership of TUI AG’s shares and the liquidity on the exchanges has evolved significantly with a notable liquidity migration from UK to Germany. In light of the views expressed by shareholders and any further feedback from shareholders, the Executive Board is currently considering, if an Upgrade to a Prime Standard listing in Frankfurt with MDAX inclusion and a delisting from the London Stock Exchange would be in the best interest of shareholders. The Executive Board’s focus is to provide an attractive, long-term listing for TUI AG which aligns with its ownership and current liquidity and delivers benefits to all shareholders. Potential advantages of simplification of the listing structures and an inclusion in the MDAX are the centralisation of liquidity, providing a clearer investment profile under a single listing, potential benefits to European Union airline ownership and control requirements, potentially enhancing TUI AG’s equity profile with an expected prominent position in the MDAX50 and creating efficiencies as well as reducing costs. While no decision has been taken, the Executive Board is therefore currently considering including the UK-Delisting resolution on the agenda for the AGM on 13 February 2024. Under the UK Listing Rules, the UK-Delisting will require shareholder approval of a delisting resolution with at least a 75% majority of the votes cast."
I wonder why all working 5 day weeks at THG HQ from early January.