REG - BASF SE - Voluntary Cancellation of LSE Secondary Listing

BASF SEAnnouncement

28/02/2019 08:05

RNS Number : 4049R
BASF SE
28 February 2019
 


February 28, 2019
BASF SE
Intended Voluntary Cancellation of the Secondary Listing of Ordinary Registered Shares of BASF SE from the London Stock Exchange



BASF SE ("BASF", or the "Company") announces that its Board of Executive Directors has approved the Company's application for the cancellation of the standard listing of BASF's ordinary registered shares (ISIN: DE000BASF111) ("Shares") on the Official List of the UK Listing Authority and the cancellation of the admission to trading of the Shares on the Main Market of the London Stock Exchange plc (the "LSE", or the "Exchange").
Reasons for the delisting
BASF has decided to apply for the voluntary delisting of its Shares from the LSE as the volume of trading in its Shares on the Exchange is low and does not justify the costs related to the secondary listing of the Shares.
Effect of the delisting and timetable
The primary listing of BASF at the Frankfurt Stock Exchange ("FSE") will be maintained following a cancellation of the secondary listing at LSE. As the volume of trading of the Shares on the LSE is low and BASF's Shares continue to be traded on the FSE, BASF believes that the impact of delisting of the Shares from the LSE on its shareholders will be negligible.
The application to the UK Listing Authority for the Shares to be removed from the Official List, and to the LSE for the Shares to be removed from trading was made on February 28, 2019. Pursuant to the Listing Rule 5.2.8R, the Company announces that the cancellation notice period of at least 20 business days of the intended cancellation is such that the last day of dealings in the Shares on the LSE is expected to be March 28, 2019 and the cancellation of the listing and of trading in the Shares on the LSE is expected to take effect at or about 08:00 a.m. London time on March 29, 2019 (the "Effective Date").
Contact details for enquiries relating to this announcement
BASF SE
Dr. Stefanie Wettberg
Senior Vice President Investor Relations
Tel. +49 621 60-48002
stefanie.wettberg@basf.com
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