BUCHAREST - S.N.G.N. Romgaz S.A., the Romanian natural gas company, has announced the effective delisting and cancellation of its global depositary receipts (GDRs) from the London Stock Exchange (LON:LSEG) as of this morning. The GDRs, which were traded under the symbols SNGR and SNG1, represented interests in ordinary shares of the company.
The delisting follows a previous report on September 25, 2024, and affects both sets of GDRs issued under Regulation S and Rule 144A under the U.S. Securities Act. As of 8:00 a.m. UK time today, the GDRs were removed from the standard listing segment of the Official List of the Financial Conduct Authority. Consequently, trading on the Main Market of the London Stock Exchange has also been cancelled.
Romgaz, listed on the Bucharest Stock Exchange (BVB), has not provided specific reasons for the delisting in the public statement. The company's GDRs each represented one ordinary share with a nominal value of RON 1.
This move comes amid a period of adjustments in the global energy market, with companies around the world reevaluating their strategies and market presence. While the delisting of Romgaz's GDRs from the London Stock Exchange signifies a shift in the company's approach to international trading, it continues to maintain its presence on the Bucharest Stock Exchange.
The information regarding the delisting was provided in a press release statement by Romgaz's Chief Executive Officer, Razvan Popescu, and Chief Financial Officer, Gabriela Tranbitas. The company's compliance with relevant financial regulations and market operations was emphasized in the announcement.
Investors holding GDRs will need to take note of this change, which may affect their investment strategies. The delisting of the GDRs signifies a change in the way Romgaz's shares are accessed by international investors, although the company remains a key player in the Romanian natural gas sector.
The details of the delisting have been officially confirmed by Romgaz and disseminated through RNS, the news service of the London Stock Exchange, which is authorized by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom (TADAWUL:4280).
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