REG - EIH Ld - Termination of Depository Agreement <Origin Href="QuoteRef">EIHO.NS</Origin>

EIHAnnouncement

22/11/2016 13:50

RNS Number : 8550P
EIH Ld
22 November 2016
EIH Limited
November22, 2016
Pursuant to the meeting of the board of directors held on November 3, 2016, the Company announces that it has issued a notice to the Bank of New York Mellon (the "Depositary"), as depositary for its global depositary receipts ("GDRs"), to the effect that the Deposit Agreement, dated October 7, 1994, between EIH Limited ("EIH") and the Depositary (the "Deposit Agreement") shall be terminated. Concurrently with termination of the Deposit Agreement and the resulting termination of the GDR facility, the Company will delist the GDRs from the London Stock Exchange.
The termination of the deposit agreement is expected to occur on or about February 23, 2017, and the listing and admission to trading of the GDRs on the London Stock Exchange will be cancelled with effect from the same date. As a result of the termination of the Deposit Agreement, the holders of the GDRs have until at least February 23, 2017 to decide whether they would like to retain their interest in the equity shares of the Company. In the event that such holders of the GDRs do not surrender the GDRs and request delivery of the underlying equity shares, they will lose the right to receive those equity shares and instead will be entitled, upon subsequent surrender of the GDRs, to receive the net proceeds of the sale of those equity shares. The date on which the Depositary will sell remaining deposited equity shares has not been determined, but it will not be earlier than February 23, 2017. 

This information is provided by RNS
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