Kingspan Group PLC Update on Migration of Kingspan Group Plc Shares (8722R)
11 March 2021 - 6:00PM
UK Regulatory
TIDMKGP
RNS Number : 8722R
Kingspan Group PLC
11 March 2021
KINGSPAN GROUP PLC
("Kingspan" or the "Company")
UPDATE ON MIGRATION OF UNCERTIFICATED SHARES FROM
CREST TO THE EUROCLEAR BANK SYSTEM
Kingspan confirms that it has taken all steps required to be
taken by it in connection with the proposed migration of the
electronic holding and settlement of its shares from the CREST
system to the Euroclear Bank system ("Migration").
Migration is expected to take effect from the opening of
business on Monday, 15 March 2021, with the migration to Euroclear
Bank of the holding and settlement of the securities of all Irish
companies with securities that are listed and traded in Dublin
and/or London.
Migration
As previously announced, at the extraordinary general meeting of
the Company held on 12 February 2021 (the "EGM") shareholders
approved the Migration and authorised the Board to take all steps
necessary to implement it.
In accordance with the terms of the Migration of Participating
Securities Act 2019 and these authorities, the Company has
consented to the Migration and has made the requisite notifications
to the Irish Companies Registration Office and Euronext Dublin.
Accordingly, all steps required to be taken by the Company to give
effect to Migration have now been completed.
Timetable for Migration
Euronext Dublin announced on 8 March 2021 that Market Migration
remains scheduled to occur in line with the indicative timetable
that was included in the Company's circular to Shareholders dated
13 January 2021 relating to the EGM (the "EGM Circular"). This
timetable remains subject to change by decision of Euronext
Dublin.
Market Migration Weekend of 12-15 March 2021
'Live date' on which Migration Open of business 15 March 2021
is to take effect
-------------------------------
Euronext Dublin maintains a dedicated web page relating to
Market Migration (on which details of the timetable and other
relevant details can be found) at the following link:
https://www.euronext.com/en/migration-csd-services-for-irish-securities-crest-euroclear-bank
If they have not done so already, Kingspan shareholders holding
their shares in CREST are strongly encouraged to consult with their
stockbroker or other intermediary at the earliest opportunity.
Migration will result in a significant change in both the form and
nature of shareholding in the Company, and the substance of, and
manner in which, rights can be exercised. In particular, Migration
will result in important changes to the processes and timelines for
submitting proxy voting instructions for the Company's forthcoming
AGM. Shareholders should familiarise themselves with the new
processes and timelines, and ensure all necessary actions have been
taken on their part and by their stockbroker or other intermediary,
to ensure they can continue to enjoy their rights as a Kingspan
shareholder in the context of the new Euroclear Bank system.
Important notes
Unless the context is otherwise required, defined terms used in
this announcement have the meanings given to them in Part 9 of the
EGM Circular.
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END
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