LivaNova has applied for the voluntary cancellation of its standard listing of ordinary shares with the United Kingdom Listing Authority and to the London Stock Exchange (LSE), to cancel trading of those shares.
According to a press release, the company’s decision was primarily due to the low volume of its shares being traded on the LSE. Trading of the company’s shares on the LSE will cease at the close of business on April 4, with the cancellation expected to become effective at 8am Greenwich Mean Time on April 5.
The company will continue to serve its shareholders through its listing on the NASDAQ Stock Market, where today the vast majority of trading in LivaNova shares occurs.
The company is announcing this decision now to provide sufficient time for shareholders who may be unable to hold shares on NASDAQ to liquidate their holdings in an orderly manner. Shareholders may continue to direct their broker to complete a CREST Stock Withdrawal in order for their depository interests to be cancelled and for book-entry interests in respect of the underlying shares to be transferred from the Depository Trust Company participant account of Computershare to the account of their designated DTC participant.