Intended Delisting from the London Stock Exchange
Byblos Bank S.A.L.
Press Release - Intended Delisting from the London Stock Exchange
Beirut, 1 July 2020
Byblos Bank s.a.l. (the "Bank") announces that it has applied for the cancellation of the listing of its Global Depositary Receipts (the "GDRs") (Regulation S: US12431A1016) from the Official List of the UK Financial Conduct Authority and the cancellation of the admission to trading of its GDRs from the London Stock Exchange with effect from 30 July 2020.
1 Reason for the Delisting
The Bank applied for the cancellation for the listing and trading of its GDRs due to the low volume of GDRs traded on the London Stock Exchange. The Bank believes that, given the limited liquidity of the GDRs, the costs and administrative burden of maintaining the listing of the GDRs on the Official List and admission to trading on the London Stock Exchange are disproportionate to the benefits thereof.
2 Continuation of Listing on the Beirut Stock Exchange
Each GDR represents 50 common shares of the Bank (the "Shares"). The Shares of the Bank represented by the GDRs will continue to be listed and traded on the Beirut Stock Exchange.
3 Global Deposit Receipt Programme
The Bank is not terminating its Global Deposit Receipt Programme. Accordingly, following the delisting from the London Stock Exchange, all GDRs will remain outstanding.
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