23 Nov 2023 07:00
Grupo Clarín S.A. Announces Expected Delisting of Global Depositary Shares
BUENOS AIRES, ARGENTINA / ACCESSWIRE / November 22, 2023 / Grupo Clarín S.A. (the "Company") announces that, on 22 November 2023, it submitted requests (a) to the London Stock Exchange (the "LSE"), to cancel the admission to trading on the Main Market of its Global Depositary Shares representing the class B shares of common stock of the Company (the "GDSs"), and (b) to the UK Financial Conduct Authority, to cancel the listing of the GDSs on the Official List.
As a result of protracted and increasingly low volume of trading and reduced liquidity in the GDSs on the LSE, and taking into account the costs associated with maintaining such listing in place, the Company's Board of Directors approved the proposed delisting and cancellation of admission to trading of the GDSs from the LSE (the "Delisting") on 22 November 2023. It is anticipated that the Delisting will take effect on or about 22 December 2023.
Holders of GDSs have the right to convert their GDSs into class B shares of common stock of the Company, which will continue to trade on the Buenos Aires Stock Exchange, subject to and in accordance with the procedures specified in the Second Amended and Restated Deposit Agreement dated 26 October 2022 entered into between the Company and JPMorgan Chase Bank N.A. ("JPM"). Holders of GDSs may contact JPM directly to discuss these matters.
Enquiries:
Mrs. Samantha OlivieriHead of Investor Relationswww.grupoclarin.comEmail: investors@grupoclarin.comTel: +54 (11) 4309 7104
SOURCE: Grupo Clarín S.A.