26th Feb 2016 14:00
VERIZON COMMUNICATIONS INC - Verizon Applies To Cancel Listing & Trading On LSEVERIZON COMMUNICATIONS INC - Verizon Applies To Cancel Listing & Trading On LSE
PR Newswire
London, February 26
Verizon Communications Inc. Applications For Cancellation Of Listing On The Official List And Of Trading On The Standard Segment Of The Main Market Of The London Stock Exchange
NEW YORK, Feb. 26, 2016 -- Verizon Communications Inc. (the "Company") announces that it has made an application (i) to the UK's Financial Conduct Authority for the Company's common stock with a par value of US$0.10 each (ISIN: US92343V1044) (the "Common Stock") to be delisted from the Official List and (ii) to the London Stock Exchange to cancel trading of the Common Stock on the standard segment of the Main Market of the London Stock Exchange (together, the "Cancellation").
It is anticipated that the Cancellation will take effect on 31 March 2016.
The Cancellation is being sought for the following reasons:
only a small amount of trading in the Common Stock is conducted on the London Stock Exchange; generally, the Company will be subject to a lighter regulatory burden following the Cancellation, thereby reducing resources devoted to compliance matters; and in practical terms, as the Company is also listed on the New York Stock Exchange and the Nasdaq Global Select Market, the continued trading of the Common Stock on the London Stock Exchange does not afford the Company a material advantage in terms of additional sources of funding relative to the on-going cost of maintaining this listing.For further information, please contact:
William L. Horton, Jr.Senior Vice President,Deputy General Counsel and Corporate Secretary
Email: [email protected]
Related Shares:
VZC.L