T-Hrvatski Telekom (Reuters: THTC.L, HT.ZA; Bloomberg: THTC LI, HTRA CZ; “T-HT” “Company”), Croatia's leading telecommunications provider, announces that it has sent Notice to JPMorgan Chase Bank („JPM“), acting as HT's GDR Depositary, of the termination of HT's GDR Depositary Agreement effective as of 1 October, 2014 („Termination Date“). GDRs will continue to be traded until that time. HT intends to seek to delist its GDRs from the London Stock Exchange („LSE“) on the same date.
Until the Termination Date, holders of GDRs can cancel them and convert them through JPM to shares or keep the GDRs and wait to be paid the cash proceeds in US dollars, about which JPM will send separate notification to the market and GDR holders.
The Company has decided to terminate the GDR program and delist its GDRs from the LSE due to the low number of GDRs in facility and their low trading volume on the LSE, making the economic rationale for continuing to list on the LSE unconvincing.
The shares will continue to be listed and tradable on the Zagreb Stock Exchange.
T-HT will continue to make English translations of its annual reports, financial statements and investor releases available on its website at www.t.ht.hr/investors.