REG - Edita Food Ind SAE - Edita Announcement

Edita Food Industries SAEAnnouncement

30/07/2025 14:15

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RNS Number : 2406T  Edita Food Industries S.A.E.  30 July 2025

 

 

Edita Food Industries S.A.E.

 

The Company's decisions related to the notice of intention to delist its
Global Depositary Receipts and to terminate the Deposit Agreement.

 

Cairo, 30 July 2025

 

Edita Food Industries S.A.E. ("Company") announces the following:

 

 

1.     Background and Reasons for Cancellation

Based on the Company's Board meeting dated 20 July 2025 in which the Board has
decided to proceed with the cancellation of the listing and admission to
trading of the GDRs on the LSE, considering it to be in the best interests of
the Company and its shareholders. Since the trading volume of the GDRs on the
LSE has been consistently low, offering limited opportunities for investors to
trade in meaningful quantities or with regular frequency. Additionally,
maintaining the GDR listing imposes significant regulatory and administrative
burdens on the Company, alongside substantial associated costs. After careful
evaluation, the Board believes that delisting is a more cost-effective and
beneficial course of action for shareholders.

2.   Delisting from the London Stock Exchange

Pursuant to UK Listing Rule 21.2.17R, the Company is required to give at least
20 business days' notice of the intended Delisting. It is intended that the
Delisting will become effective from 8:00 a.m. (London time) 19 September
2025, such that the last date of trading of the GDRs on the LSE will be 18
September 2025.

Following the Delisting, it will no longer be possible to trade the GDRs on
the LSE.

 

3.   Termination of Deposit Agreement

The Company has delivered notice to The Bank Of New York Mellon (the
"Depositary"), as depositary for the GDRs in order to terminate the deposit
agreement relating to its global depositary receipt programme (the "Deposit
Agreement"). The termination date of the Deposit Agreement will be 19
September 2025 (the "Termination Date").

Prior to the Termination Date, holders may cancel their GDRs and, in
accordance with the Deposit Agreement, receive the relevant number of
underlying shares represented by the GDRs they hold.

If any GDRs remain outstanding after the Termination Date, the Depositary
shall as soon as reasonably practicable sell the underlying shares represented
by the GDRs they hold under the Deposit Agreement and shall not register
transfers, shall not pass on dividends or distributions or take any other
action, except that it will deliver the net proceeds of any such sale,
together with any other cash then held by it under the Deposit Agreement, pro
rata to Holders of GDRs which have not previously been so surrendered. After
making such sale, the Depositary shall be discharged from all obligations
under the Deposit Agreement and the Conditions, except its obligation to
account to holders for such net proceeds of sale and other cash comprising the
underlying shares without interest.

Holders of GDRs are urged to consult their own investment advisors and brokers
for more information on the actions that can be taken in respect of their
holdings of GDRs.

 

Edita Food Industries S.A.E.

Contacts

Ms. Menna Shams El Din

Chief Investment Officer & Corporate Affairs

T: +202 3851 6464 | M: +20 100 1542428 | menna.shamseldin@edita.com.eg

 

 

 

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