20th Apr 2012 07:00
20 April, 2012 Daily Mail and General Trust plc (`DMGT') DMGT shares to leave the FTSE's UK index series
DMGT notes the statement published by FTSE on 18 April that its `A' Ordinary Non-Voting shares will leave the FTSE's UK index series on 18 June 2012, following FTSE's next quarterly index review on 6 June. The move follows the implementation of FTSE's index ground rules, recognising the application of new listing categorisations by the Financial Services Authority in its role as the UK Listing Authority.
Under the new listing rules, DMGT's `A' shares will be classified as having a "standard" rather than a "premium" listing because they do not confer voting rights. The new listing categorisations were introduced in April 2010 and take effect on 31 May 2012, following a two year transitional period. On 18 April FTSE issued clarification that shares with a "standard" listing will not be eligible for inclusion in the FTSE UK index series. DMGT is currently included in both the FTSE 250 and the FTSE All-Share Indices.
Stephen Daintith, DMGT Finance Director, said: "We explained in our 2010 and 2011 Annual Reports that FTSE's adoption of the FSA's new listing classifications for determining the weighting of share classes in their indices would mean that DMGT's weighting in the UK Index Series would fall from 75% to 0% once our `A' shares are re-designated by the FSA as having a standard listing."
"FTSE have now clarified the position with regard to the inclusion of standard listed stocks in the FTSE UK Index Series such that DMGT's `A' shares are expected no longer to be included in the FTSE UK Index Series."
"This change will have no impact on the approach DMGT takes to its obligations as a listed company. It will continue to adopt the obligations and practices of the UK Listing Rules as they have applied to DMGT historically, maintaining the highest standard of governance and disclosure including the application of the UK Corporate Governance Code."
Enquiries:
Stephen Daintith, Finance Director, DMGT +44 20 3615 2907 Nicholas Jennings, Company Secretary, DMGT +44 20 3615 2905 Kim Fletcher / Will Carnwath, Brunswick Group LLP +44 20 7404 5959 Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT Tel 020 7938 6000 Fax 020 7938 4626 www.dmgt.com Registered in England and Wales No. 184594 Not for public release until 7 am on 20 April, 2012
XLONRelated Shares:
DMGT.L