REG - Turkiye Petrol Rafin - Delisting of GDR <Origin Href="QuoteRef">TUPRS.IS</Origin>

Turkiye Petrol Rafinerileri ASAnnouncement

22/06/2016 07:00

RNS Number : 8882B
Turkiye Petrol Rafinerileri AS
21 June 2016
Announcement : 
Tpra announces the Automatic termination of International Deposit Agreement, executed between Turkish Petroleum Refineries Corporation ("the Issuer"), Deutsche Bank Trust Company Americas ("Depositary"), Holders, Owners and Beneficial Owners of International GDRs, and Rule 144A Deposit Agreement, executed between the Issuer, Depositary, Holders, Owners and Beneficial Owners of 144A GDRs, both dated April 12, 2000 ("Deposit Agreements").
With regard to the captioned matter, and in pursuance thereto, we hereby request you to cancel admission of GDRs to the official list of UKLA and also cancel the trading and listing of GDRs on the PSM of the LSE under LR 5.2.4 of the FCA Handbook, with effect from July 20, 2016. Please find the required information herebelow;
1. NameandregisteredofficeaddressoftheIssuer:
Registeredofficeaddress:
Trkiye Petrol Rafinerileri A.. - Tpra
Genel Mdrlk
Gney Mahallesi, Petrol Cad. No:25, Krfez 41790 Kocaeli / Turkey
2. Securitiessubjecttocancellationoflistingandtrading:
Type of GDR
ISIN Number
SEDOL
Symbol
Regulation S GDR'S
US90015M2044
5944675
TPRD
Rule 144A GDR's
US90015M1053
2576598
TUPRY
3. Reasonsforcancellationoflistingandtrading:
It has been decided not to appoint a replacement depositary in the place of resigning depositary in view of extremely low trading volume of GDRs on the PSM of the LSE and insignificant number of GDRs admitted for listing on the official list of UKLA in relation to the total market capitalization of the Company. In light of above, the Depositary sent a notice for the termination of Deposit Agreements and GDR program. Consequently, admission of GDRs to official list of UKLA needs to be cancelled and trading and listing of GDRs on the PSM of the LSE also needs to be cancelled.
4. Scheduleofcancellationoflistingandtrading:
The cancellation of trading and listing of GDRs on the PSM of the LSE shall be effective from July 20, 2016 (the date of such delisting, the "Delisting Date").
From and including the Delisting Date, holders of GDRs will no longer be able to trade their GDRs on the PSM of the LSE. The GDRs will not be listed or traded anywhere after the Delisting Date.
Tupras is Turkey's largest industrial enterprise and sole refining company with 28.1 mn ton crude processing capacity in its four refineries in Izmit, Izmir, Krkkale and Batman.Tpra shares are traded in Borsa stanbul (BIST) 

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