Request for the cancellation of listing of GDSsSource: RNS
Bank Polska Kasa Opieki S.A.
Warsaw, 23 December 2021
Bank Polska Kasa Opieki S.A. (the "Bank") announces that it has requested the cancellation of the listing of its Global Depositary Shares (the "GDSs") (ISIN: US0644512065; US0644511075) 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 31 March 2022.
1. Reason for the Delisting
The Bank requested 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 Warsaw Stock Exchange
Each GDS represents one share of the Bank (the "Shares"). The shares of the Bank will continue to be listed and traded on the Warsaw Stock Exchange.
3. Global Deposit Receipt Programme
The Bank has instructed The Bank of New York Mellon (the "Depositary") to terminate its Global Deposit Receipt Programme as of 31 March 2022. Accordingly, holders of GDSs will receive Shares in proportion to the number of GDSs held, pursuant to Section 6.02 of the Regulation S Deposit Agreement and the Rule 144A Deposit Agreement, each dated November 2, 2020 (the "Deposit Agreements") between the Bank and the Depositary.
By: Leszek Skiba
Position: President of the Management Board
By: Marcin Jabłczyński
Position: Director of IR and ESG Strategy Department