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 a request to the London Stock Exchange (“LSE”) and UK Listing Authority (“UKLA”) to delist its GDRs and cancel GDR trading effective as of 6 October 2014.
This request refers to GDRs with the following features:
- Name of issuer:
Hrvatski Telekom d.d. (before HT-Hrvatske telekomunikacije d.d.)
- Securities name:
THTC HRVATSKI TELEKOM D.D. GDR (EACH REPR 1 ORD) (REG S) HRVATSKI REGS Currency: USD; ISIN number: US44330H2004
and
HRVAL HRVATSKI TELEKOM D.D. GDR (EACH REPR 1 ORD) (144A) Currency: USD; ISIN number: US44330H1014
- Regulated investment exchange on which securities are traded:
London Stock Exchange; trading service: International Order Book, Market: Mainmarket
- Reason for delisting:
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.
As previously announced, notice to JPMorgan Chase Bank („JPM“), acting as HT's GDR Depositary, of the termination of HT's GDR Depositary Agreement was sent on 3 July 2014.
Until delisting 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.
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.