LONDON: Just Eat Takeaway.com N.V. (LSE: JET, AMS: TKWY), one of the world’s largest online food delivery companies, has announced its decision to delist from the London Stock Exchange (LSE) to streamline operations and reduce costs.
Currently, the company’s shares are listed on the LSE as CREST Depository Interests (CDIs) and on Euronext Amsterdam. Following a review of listing venues, the company cited low liquidity, trading volumes, and high administrative costs as reasons for the delisting.
The company has requested the Financial Conduct Authority (FCA) to cancel the listing of its shares from the equity shares international commercial companies secondary listing category of the Official List of the FCA, and the LSE to cancel the admission to trading on its main market. This delisting will take effect from 8:00 a.m. on December 27, 2024, with the last trading day being December 24, 2024.
Post-delisting, Just Eat Takeaway.com will maintain its primary listing on Euronext Amsterdam. Shareholders holding CDIs are advised to consult their investment advisers on converting their holdings to shares that can be traded on Euronext Amsterdam. The Corporate Sponsored Nominee service will continue to operate and be managed by Equiniti Financial Services Limited, with updates to be provided in the next quarterly statement.
As the delisting falls under the equity shares international commercial companies secondary listing category, no shareholder approval is required. This move aims to reduce administrative burden and costs while maintaining effective trading opportunities for investors.