LONDON – Argent BioPharma Ltd., a drug discovery company, has announced that it will delist. London Stock Exchange (LON:) Main Market, effective from Tuesday 31 December 2024. The Company's shares will not be traded on the London Stock Exchange after this date.
The delisting will result in changes for the holders of Depositary Rights (DIs) of the company. Although DIs will no longer be tradable on the London Stock Exchange, they can still be settled through the CREST system. Shareholders may need to transfer their DIs to the Clearing House Electronic Subregistry System (CHESS) to facilitate trade settlements on the Australian Stock Exchange (ASX).
Argent BioPharma stated that DI holders will receive separate communications regarding the potential future termination of the Depositary Interest Facility. Shareholders wishing to trade on the ASX must withdraw their DI from CREST and place it back into CHESS. The company confirmed that this transfer process remains unchanged despite its removal from the list.
The company's board of directors has authorized the publication of this information. Shareholders who have additional questions regarding the trading of their shares following delisting are encouraged to consult their investment advisor or broker for guidance.
This news comes as the company prepares for the final day of trading on the London Stock Exchange, which is also scheduled to be Tuesday 31 December 2024. This move is part of Argent BioPharma's strategic changes within its operations and market presence.
This announcement is based on a press release from Argent BioPharma.
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