Barloworld Limited Barloworld Limited to cancel its listing in the UK (3815K)
September 02 2021 - 2:00AM
UK Regulatory
TIDMBWO
RNS Number : 3815K
Barloworld Limited
02 September 2021
Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1918/000095/06)
(JSE share code: BAW)
(LSE share code: BWO)
(Namibian Stock Exchange share code: BWL)
(Bond issuer code: BIBAW)
(ISIN: ZAE000026639)
(Barloworld or the Company or the Group)
Barloworld Limited to cancel its listing in the United
Kingdom
Barloworld Limited ("Barloworld" or the "Company") today
announces that it has made an application to the Financial Conduct
Authority ("FCA") for the cancellation of its current listing of
its ordinary shares of 0.05R ("Shares") on the Standard Segment of
the Official List and an application to the London Stock Exchange
plc ("London Stock Exchange") to cancel the admission to trading on
the Main Market (together, the "Cancellation"), following a
determination by the directors of the Company that, pursuant to
various business transactions including an unbundling in 2008 and
the subsequent disposal of assets and businesses in Europe, there
was no visible benefit in maintaining the secondary listing on the
London Stock Exchange.
The Ordinary Shares have been listed on the London Stock
Exchange since 7 March 1969. Currently, shareholders holding
approximately 0.14% of the total issued share capital of the
Company appear on the Company's UK branch register of members. As a
consequence, the Company's conclusion that the London listing be
cancelled, is supported by the limited trading and liquidity of the
Shares on the London Stock Exchange (meaning that limited benefit
is brought by the listing).
The Company currently has its primary listing on the
Johannesburg Stock Exchange and maintains another secondary listing
on the Namibian Stock Exchange. Following the Cancellation, the
Shares will continue to trade on both of these exchanges which
should provide shareholders with liquidity and places sufficient
corporate governance requirements upon the Company. In order for
shareholders on the Company's UK register of members to trade on
these exchanges, they will need to first transfer their
shareholding back to South Africa and should contact Equiniti (the
Company's UK registrar) on the contact details below.
Pursuant to Listing Rule 5.2.8, the Company announces that the
cancellation notice period has now commenced and cancellation is
expected to take effect at 8.00 a.m. on Friday, 1 October 2021.
About Barloworld
Barloworld is positioned as an industrial processing,
distribution, and services company with two primary areas of focus:
Industrial Equipment and Services and Consumer Industries (food and
ingredient solutions), with our remaining interests in the rapidly
changing Automotive world, focused on car rental and leasing
activities. Our provision of Industrial Equipment and related
services, offers earthmoving equipment, industrial services, and
power systems, which enable the operation and maintenance of a
large array of mining, construction, and power solutions for our
customers, with whom we have built enduring relationships based on
mutual trust. Through our Consumer Industries business, Ingrain, we
provide large enterprises with the ingredients essential to the
manufacturing of a range of products including food and beverages,
paper, pharmaceuticals, building materials and adhesives, amongst
others
Disclaimer
Some of the statements in this document are forward-looking.
Forward-looking statements include statements regarding the intent,
belief and current expectations of the Company or its officers with
respect to the potential that exists in the Automotive sector and
the regulatory and associated costs which may be saved as a result
on the Cancellation. When used in this document, the words
"expects," "believes," "anticipates," "plans," "may," "will,"
"should" and similar expressions, and the negatives thereof, are
intended to identify forward-looking statements. Such statements
are not promises or guarantees, and are subject to risks and
uncertainties that could cause actual outcomes to differ materially
from those suggested by any such statements including risks and
uncertainties with respect to the potential that exists in the
Automotive sector and associated costs which may be saved as a
result on the Cancellation.
No part of this announcement constitutes, or shall be taken to
constitute, an invitation or inducement to invest in the Company or
any other entity, and shareholders of the Company are cautioned not
to place undue reliance on the forward-looking statements. Save as
required by the Listing Rules and applicable law, the Company does
not undertake to update or change any forward-looking statements to
reflect events occurring after the date of this announcement.
Contact Information:
Barloworld Limited
invest@barloworld.com
www.barloworld.com
Equiniti
UK callers: 0371 384 2199
International callers: +44 (0)121 415 7047
Equiniti, Branch Register transfers, Aspect House, Spencer Road,
Lancing West Sussex BN99 6DA
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END
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