4th Jan 2024 15:49
(Alliance News) - Tui AG on Thursday said it plans to delist from the UK in June.
The tour operator said it will hold its annual general meeting on February 13 with a resolution to delist from the UK. It plans to delist on June 24. The delisting resolution requires at least 75% votes in favour at the meeting.
In December, Tui said it was considering delisting from the London Stock Exchange and upgrading to a "Prime Standard" listing in Frankfurt with inclusion on the MDAX index.
Back then it said: "Potential advantages of simplification of the listing structures and an inclusion in the MDAX are the centralisation of liquidity, providing a clearer investment profile under a single listing, potential benefits to EU airline ownership and control requirements, potentially enhancing TUI's equity profile with an expected prominent position in the MDAX50 and creating efficiencies as well as reducing costs."
Tui shares were 0.3% lower at 606.00 pence each on Thursday afternoon in London.
By Tom Budszus, Alliance News slot editor
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