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Edita Announcement

30 Jul 2025 14:05

RNS Number : 2406T
Edita Food Industries S.A.E.
30 July 2025
 

 

 

Edita Food Industries S.A.E.

 

The Company's decisions related to the notice of intention to delist its Global Depositary Receipts and to terminate the Deposit Agreement.

 

Cairo, 30 July 2025

 

Edita Food Industries S.A.E. ("Company") announces the following:

 

 

1. Background and Reasons for Cancellation

Based on the Company's Board meeting dated 20 July 2025 in which the Board has decided to proceed with the cancellation of the listing and admission to trading of the GDRs on the LSE, considering it to be in the best interests of the Company and its shareholders. Since the trading volume of the GDRs on the LSE has been consistently low, offering limited opportunities for investors to trade in meaningful quantities or with regular frequency. Additionally, maintaining the GDR listing imposes significant regulatory and administrative burdens on the Company, alongside substantial associated costs. After careful evaluation, the Board believes that delisting is a more cost-effective and beneficial course of action for shareholders.

2. Delisting from the London Stock Exchange

Pursuant to UK Listing Rule 21.2.17R, the Company is required to give at least 20 business days' notice of the intended Delisting. It is intended that the Delisting will become effective from 8:00 a.m. (London time) 19 September 2025, such that the last date of trading of the GDRs on the LSE will be 18 September 2025.

Following the Delisting, it will no longer be possible to trade the GDRs on the LSE.

 

3. Termination of Deposit Agreement

The Company has delivered notice to The Bank Of New York Mellon (the "Depositary"), as depositary for the GDRs in order to terminate the deposit agreement relating to its global depositary receipt programme (the "Deposit Agreement"). The termination date of the Deposit Agreement will be 19 September 2025 (the "Termination Date").

Prior to the Termination Date, holders may cancel their GDRs and, in accordance with the Deposit Agreement, receive the relevant number of underlying shares represented by the GDRs they hold.

If any GDRs remain outstanding after the Termination Date, the Depositary shall as soon as reasonably practicable sell the underlying shares represented by the GDRs they hold under the Deposit Agreement and shall not register transfers, shall not pass on dividends or distributions or take any other action, except that it will deliver the net proceeds of any such sale, together with any other cash then held by it under the Deposit Agreement, pro rata to Holders of GDRs which have not previously been so surrendered. After making such sale, the Depositary shall be discharged from all obligations under the Deposit Agreement and the Conditions, except its obligation to account to holders for such net proceeds of sale and other cash comprising the underlying shares without interest.

Holders of GDRs are urged to consult their own investment advisors and brokers for more information on the actions that can be taken in respect of their holdings of GDRs.

 

Edita Food Industries S.A.E.

Contacts

Ms. Menna Shams El Din

Chief Investment Officer & Corporate Affairs

T: +202 3851 6464 | M: +20 100 1542428 | menna.shamseldin@edita.com.eg

 

 

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