TUI eyes 24 June delisting from London Stock Exchange
If the resolution is approved, it is expected the delisting would occur on 24 June 2024.
According to a regulatory filing today (4 January), the tour operator has consulted with shareholders on the matter and will propose the resolution at its 13 February AGM.
The move follows an announcement by the firm on 6 December, which confirmed it was considering a move from the London Stock Exchange after being approached by «certain» shareholders to discuss and understand whether the current listing structure is «optimal and advantageous».
Stock Spotlight: TUI on track for recovery as possible move from LSE looms large
One of Europe's largest tour operators, TUI has had a dual listing in both London and Frankfurt ever since its formation through the merger of the British tour operator TUI Travel and its German parent company, TUI AG, in 2014.
Currently a member of the FTSE 250, TUI said it was seeking to understand if a simplification of its listing structure and more prominent position in the Frankfurt Stock Exchange's MDAX index would be «beneficial».
It added the move would provide a «clearer» investment profile under a single listing, along with potential benefits to EU airline ownership and control requirements, enhancing its equity profile.
If the resolution is approved, it is expected the delisting would occur on 24 June 2024.
Brooks Macdonald CIO Edward Park set to depart after 15 years
Stories of the Week: New Year Honours; Fundsmith slips down ii list; Another short position against Hargreaves Lansdown
Read more on investmentweek.co.uk
