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General

BT to delist from NYSE and terminate ADR programme

Wednesday 14 August 2019 | 18:06 CET | News

BT Group has announced plans to delist from the New York Stock Exchange (NYSE) and terminate the ADR programme. It also plans to deregister and terminate reporting obligations with the US Securities & Exchange Commission (SEC). 

BT plans to delist its American Depositary Shares (ADSs) from the NYSE, and will file a Form 25 with the SEC on 03 September in relation to this delisting. It expects the delisting to become effective following the close of the market in New York on 13 September. From this time, BT's ADSs will no longer be traded on the NYSE. BT will also file a Form 15F with the SEC to deregister all of its registered debt securities, expecting this to become effective 90 days after filing. 

The decision to delist and deregister is designed to lower reporting costs and complexity, whilst maintaining high levels of corporate governance and transparent financial reporting. The BT ADR programme comprises around 2 percent of its shares in issue, with N American-based investors holding around 20 percent of BT shares in issue. 

 



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Categories: General
Companies: BT
Countries: United States
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