Depa Limited Cancellation of Listing and Termination of Depositary AgreementNov 21 ,2017
Depa Limited (“Depa”), the leading global interior solutions group is to cancel the listings on the Official List maintained by the UK Listing Authority and the admissions to trading on the London Stock Exchange (LSE) of the following global depository receipts:
- Depa Limited Regulation S Global Depositary Receipts (each representing 5 ordinary shares of USD0.40 each) (ISIN US2495082016); and
- Depa Limited Rule 144A Global Depositary Receipts (each representing 5 ordinary shares of USD0.40 each) (ISIN US2495081026),
(together, the GDRs).
The cancellation of the listings and the admissions to trading of the GDRs are both expected to be effective from 8.00 a.m. on 26 February 2018.
Depa is delisting its GDRs because the volume of global depositary receipts traded on the LSE is negligible and does not, in Depa’s view, justify the related expenses of the listing. Depa’s ordinary shares will continue to be traded on the Nasdaq Dubai.
Termination of Depositary Agreement
On 19 November 2017, Depa delivered a written notice to The Bank of New York Mellon (BNYM) in order to terminate the depositary agreement relating to the GDRs between Depa and BNYM. Following receipt of the written notice from Depa, BNYM delivered a notice to each GDR holder notifying such person that, in accordance with condition 21.1 of the terms and conditions relating to the GDRs, the depositary agreement shall terminate on 26 February 2018.
For further information, please contact:
Depa Limited Tel: + 971 4 446 2100
Group Chief Legal Officer & Company Secretary
For more information, please refer to the corporate website: www.depa.com
NOTES TO EDITORS:
Depa is a strategic management company specialising in global interior solutions. Depa’s four Key Business Units hold leading positions in their respective markets: Design Studio, Vedder, Depa Interiors Group and Deco Group. Employing thousands of people worldwide, the Group’s operations are centred on three regional hubs: Asia, Europe and the Middle East.
Depa’s mission, shared by each of its Key Business Units, is to deliver sustainability, profitability and performance for our clients, shareholders and employees. The Group’s five core values are integral to everything Depa does: transparency, integrity, accountability, professionalism and exceptional service.
Depa Limited is listed on the Nasdaq Dubai (DEPA:DU) and is headquartered in Dubai, United Arab Emirates.