REG - Suzlon Energy Ltd - DISCONTINUANCE OF USE OF IOB PLATFORM FOR GDR <Origin Href="QuoteRef">SUZL.NS</Origin>
RNS Number : 8988NSuzlon Energy Limited03 February 2016SEL/IR-01/2015-16 February 03, 2016
London Stock Exchange
10 Paternoster Square
London
EC4M 7LS
Sub: Discontinuance of the use of IOB Platform of the Exchange in respect of the GDRs of Suzlon Energy Limited (The Company / Issuer)
Dear Sirs,
Suzlon Energy Limited ("Company") requests London Stock Exchange ("LSE") for discontinuance of the use of IOB Platform of the Exchange in respect of the GDRs of the Company, with effect from the close of the market hours on the London Stock Exchange on March 31, 2016.
Key Particulars:
1. Name of Issuer: Suzlon Energy Limited
2. Name of Securities: ISIN US86960A1043; Global Depositary Receipts (Each Representing 4 fully paid shares of Suzlon Energy Limited)
3. Regulated Exchange on which GDR is listed: Luxembourg Stock Exchange
4. Regulated Exchange on which underlying Stock is listed: National Stock Exchange / Bombay Stock Exchange
5. Reasons for delisting:The Company has decided to cancel admission to trading of GDRs on the International Order Book (IOB Market) of the London Stock Exchange due to the low trading volumes of GDRs on the main market, rendering the benefit to cost ratio unsustainable.
The GDRs will continue to be listed and traded on Luxembourg Stock Exchange and the ordinary shares will continue to be listed and traded on National Stock Exchange and Bombay Stock Exchange.
We shall simultaneously be getting the discontinuance as aforesaid notified through a Regulated Information Service agency of the Exchange.
Should the Exchange require any further steps to be taken by the Company in the matter, the same may be conveyed to us immediately.
From and On Behalf of Suzlon Energy Limited
Kirti Vagadia
Group Chief Financial Officer
About Suzlon Group:
The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America. With over two decades of operational track record, the Group has a cumulative installation of approximately 15GW of wind energy capacity, a workforce of over 8,000, a low-cost manufacturing base and strong in-house R&D set-up in USA, Germany, the Netherlands, Denmark and India. Approximately 9GW of the Group's installation is in India, which makes up for ~37% of the country's wind installations, making Suzlon the largest player in this sector. The company has recently forayed into the solar space. The Group, headquartered at Suzlon One Earth in Pune, India, is comprised of Suzlon Energy Limited and its subsidiaries. Suzlon corporate website: www.suzlon.com
Press Contact
Investor Relations Contact
Viswakumar Menon
Group Head, Corporate Communications
Suzlon Group
Tel: +91 9820069928
E-mail: vk.menon@suzlon.com
Ashish Gupta
Investor Relations
Suzlon Group
Tel.: +91 (22) 6184 3776
E-mail: gupta.ashish@suzlon.com
This information is provided by RNSThe company news service from the London Stock ExchangeENDMSCAKNDBOBKKABK