LONDON - Argent BioPharma Ltd., a drug discovery company, has announced that it will delist from the London Stock Exchange (LON:LSEG)'s Main Market, effective Tuesday, December 31, 2024. The company's shares will no longer be traded on the LSE after this date.
The delisting will lead to changes for holders of the company's Depositary Interests (DIs). Although the DIs will no longer be tradable on the LSE, they can still be settled through the CREST system. Shareholders may need to transfer their DIs to the Clearing House Electronic Sub-register System (CHESS) to facilitate trade settlements on the Australian Stock Exchange (ASX).
Argent BioPharma has stated that DI holders will receive separate communication regarding the potential future termination of the Depositary Interest facility. Shareholders wishing to trade on the ASX must withdraw their DIs from CREST and reposition them to CHESS. The company has assured that the process for this transfer remains unchanged despite the delisting.
The company's board of directors has authorized the release of this information. Shareholders with additional questions concerning the trading of their shares post-delisting are advised to consult their investment adviser or broker for guidance.
This news comes as the company prepares for its final day of trading on the LSE, which is also scheduled for Tuesday, December 31, 2024. The transition is part of Argent BioPharma's strategic changes within its operations and market presence.
The announcement is based on a press release statement issued by Argent BioPharma.
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