Verizon
Communications Inc. Applications For Cancellation Of Listing On The
Official List And Of Trading On The Standard Segment Of The Main
Market Of The London Stock Exchange
NEW YORK, Feb. 26, 2016
-- Verizon Communications Inc. (the "Company")
announces that it has made an application (i) to the UK's Financial
Conduct Authority for the Company's common stock with a par value
of US$0.10 each (ISIN: US92343V1044)
(the "Common Stock") to be delisted from the Official List
and (ii) to the London Stock Exchange to cancel trading of the
Common Stock on the standard segment of the Main Market of the
London Stock Exchange (together, the "Cancellation").
It is anticipated that the Cancellation will take effect on
31 March 2016.
The Cancellation is being sought for the following reasons:
- only a small amount of trading in the Common Stock is conducted
on the London Stock Exchange;
- generally, the Company will be subject to a lighter regulatory
burden following the Cancellation, thereby reducing resources
devoted to compliance matters; and
- in practical terms, as the Company is also listed on the New
York Stock Exchange and the Nasdaq Global Select Market, the
continued trading of the Common Stock on the London Stock Exchange
does not afford the Company a material advantage in terms of
additional sources of funding relative to the on-going cost of
maintaining this listing.
For further information, please contact:
William L. Horton, Jr.
Senior Vice President,
Deputy General Counsel and Corporate Secretary
Email: william.horton@verizon.com