Business
Confirmation of delisting from NZX and ASX
Confirmation of delisting from NZX and ASX.
About this update from Coats Group Plc
[{"type":"text","content":"\n \nRNS Number : 6564Y Coats Group PLC 19 May 2016 \n\n19 May 2016\n \n \nCoats Group plc\n \n \nConfirmation of delisting from NZX and ASX\n \n \nCoats Group plc ('Coats' or the 'Company'), the world's leading industrial thread manufacturer, today confirms that it will delist from both the NZX Main Board ('NZX') and the Australian Securities Exchange ('ASX') on\n24 June 2016, at which point Coats shares will only be tradable on the London Stock Exchange ('LSE').\nThis follows shareholder approval to delist from the NZX at the Company's Annual General Meeting held yesterday (18 May 2016), with 99% of votes cast in favour of the resolution (in total 70% of votes were cast as a percentage of the issued share capital).\n \nThe decision to delist, announced in November 2015, reflects the much reduced shareholder base in the two countries, the benefit of concentrating trading volumes on one market and the Company's move away from its New Zealand focused, investment firm past. New Zealand and Australian shareholders now make up only 11% of the share register, down from over 30% a year ago (May 2015).\n \nCoats will be delisted from the NZX and ASX and the New Zealand and Australian branch of Coats' share register will be closed on 24 June 2016. See appendix 1 for a full timetable. A summary of the main options in connection with the delisting for shareholders and CDI holders is available at www.coats.com/delistings. Coats Directors do not make any recommendation or give any advice as to which option New Zealand shareholders and Australian CDI holders should select. \n \n \n_________________________________________________________________________________________\n \nEnquiry details\nMedia \nNZ and Australia &...