Trading of shares of FBD Holdings plc on the London Stock Exchange will end a multi-decade run on Friday June 7. Shareholders voted overwhelmingly at the annual general meeting of the insurer on May 9 to delist shares from London trading, leaving the company’s sole listing on the main market of the Euronext exchange in Dublin.
Trading of shares of FBD Holdings plc on the London Stock Exchange will end a multi-decade run on Friday June 7.
Shareholders voted overwhelmingly at the annual general meeting of the insurer on May 9 to delist shares from London trading, leaving the company’s sole listing on the main market of the Euronext exchange in Dublin.
In the proposal put to shareholders in May, the board of FBD pointed out that there is very little trading of FBD shares in London.
Trading on that exchange only accounted for 2% of FBD’s average total volume in the
previous 12 months.
It also said that there is a risk of increasing regulatory divergence between the UK and the EU in the wake of Brexit would risk increasing the burden on the insurer when it comes to following financial rules in two different jurisdictions.
No changes
On compliance, there will be no changes for FBD as it will continue to be regulated by the Central Bank of Ireland.
When it came to the vote at the AGM, shareholders voted by 99.994% in favour of the delisting. From Monday next, June 10, Dublin will be the only listing for the company.
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