RE: Russian steelmaker Evraz to be deleted from FTSE indices15 Mar 2022 14:42
I spoke earlier to the LS Exchange themselves for some clarity on our situation. Although, as expected, they couldn’t discuss specific companies etc etc, I managed to get some elements a bit clearer.
Some of you may already know what I’m stating below but thought it useful to some degree for us all.
FTSE Russell is effectively the parent name and they pretty much manage the different groupings (100, 250 etc) and now officially known as the London Stock Exchange.
FCA have requested the sanctions not LSE and are therefore bound to abide imposing such sanctions.
This now will also include the de-listing if it’s to still go ahead
There should be notice of this the day before the de-listing, and highly likely that we will be notified by Evraz themselves (probably RNS)
You, as a shareholder still “own” your shares and if de-listed will need to seek further advice, perhaps via your broker, on how to sell them if you choose to do so via OTC (over the counter)
If a company gets de-listed it has every opportunity to re-list.They simply have to go through the application procedures as per norm (for anyone wishing to list)
This process could be actioned in as little as 20 business days
De-listing and re-listing happens, perhaps more than we would have initially thought and therefore there’s a process for it
Apart from the above, we pretty much know that Evraz financially etc is very solid and so “when” they’re able to re-list... they’ll be on it and I’d like to think that it would be dealt with promptly.
Just a waiting game now I guess.
Gl all genuine holders
UNB1