South African life assurer and financial services group Liberty announced on Monday that it intends to cancel the company’s secondary listing on the London Stock Exchange.
“The company announces today that it intends to delist its ordinary shares of R0,10 each from the official list of the United Kingdom Listing Authority and from trading on the London Stock Exchange plc (London listing),” Liberty — which is controlled by Standard Bank — said in an announcement to the JSE Securities Exchange.
It said the action is being taken due to the small number of shareholders and trades in the company’s shares in the UK and the costs associated with the maintenance of the London listing.
“It is anticipated that the London listing will be withdrawn in accordance with the UK Listing Authority Listing Rule 1.21 and 1.22(b) with effect from the close of business on August 31 2004. The company will continue to maintain its primary listing on the JSE Securities Exchange South Africa.” — I-Net Bridge