Last checked at 17 Jan 2022 10:30
17 January 2022
BT GROUP PLC
BT files an application to cease to be a reporting issuer in Canada
BT Group plc ("BT") has applied to the British Columbia Securities Commission ( "BCSC") as its principal regulator in Canada for an order (the "order") to cease being a reporting issuer in British Columbia, Quebec and Nova Scotia. BT is not a reporting issuer in any other Canadian jurisdiction.
If the order is granted, BT will cease to be a reporting issuer in Canada and, as a result, will no longer be required to file financial statements and other continuous disclosure documents in Canada pursuant to applicable Canadian securities laws.
BT has made this decision in order to reduce reporting costs and complexity. It will continue to positively engage with Canadian equity and debt investors, and remains committed to its customers operating in Canada.
BT will continue to file all financial statements and other continuous disclosure materials required to be filed by BT in accordance with applicable laws and regulations of the United Kingdom, including rules of the Financial Conduct Authority and the London Stock Exchange. All such continuous disclosure documents of BT are publicly available to all BT securityholders on the investor relations page of BT's website www.bt.com/about and at the National Storage Mechanism https://data.fca.org.uk/#/nsm/nationalstoragemechanism. BT securityholders resident in Canada will continue to receive copies of continuous disclosure documents that are required to be delivered to securityholders in the United Kingdom, in the same manner and at the same time as is required under the applicable laws and regulations in the United Kingdom, including pursuant to the rules of the Financial Conduct Authority. A simultaneous application has been made by British Telecommunications plc ("BT plc") to the BCSC (as its principal regulator) and the Ontario Securities Commission to cease to be a reporting issuer in British Columbia, Ontario and Nova Scotia. BT plc is not a reporting issuer in any other Canadian jurisdiction.
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About BT
BT Group is the UK's leading telecommunications and network provider and a leading provider of global communications services and solutions, serving customers in 180 countries. Its principal activities in the UK include the provision of fixed voice, mobile, broadband and TV (including Sport) and a range of products and services over converged fixed and mobile networks to consumer, business and public sector customers. For its global customers, BT provides managed services, security and network and IT infrastructure services to support their operations all over the world. BT consists of four customer-facing units: Consumer, Enterprise, Global and its wholly-owned subsidiary, Openreach, which provides access network services to over 650 communications provider customers who sell phone, broadband and Ethernet services to homes and businesses across the UK.
For the year ended 31 March 2021, BT Group's reported revenue was £21,331m with reported profit before taxation of £1,804m.
British Telecommunications plc is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on the London Stock Exchange.
For more information, visit www.bt.com/about