Admission to Listing and Trading on the LSE & CSE

RNS Number : 5896U

Bank of Cyprus Holdings PLC

19 January 2017

 

	Announcement Bank of Cyprus Holdings Public Limited Company Admission to Listing and Trading on the London Stock Exchange and the Cyprus Stock Exchange

Nicosia, 19 January 2017

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD VIOLATE THE LAWS OF THAT JURISDICTION

Bank of Cyprus Holdings Public Limited Company ("BOC Holdings" and, together with its subsidiaries, the "Group") announces that its total issued share capital of 446.199.933 ordinary shares of nominal value €0,10 each has been admitted to the standard listing segment of the Official List of the United Kingdom's Financial Conduct Authority, to trading on the Main Market for listed securities of the London Stock Exchange ("LSE") under the ticker symbol "BOCH", to listing on the Cyprus Stock Exchange ("CSE") and to trading on the Main Market of the CSE under the ticker symbol "BOCH/ΤΡΚΗ", with ISIN IE00BD5B1Y92.

Trading will commence on the CSE and the LSE at 10:30am (Cyprus time) and 8:00am (London time), respectively.

The listing on the LSE is expected to improve the liquidity of the Group's stock, which will enhance the Group's visibility and lead to a broader base of investors capable of supporting the Group in the long-term. This will further enhance the confidence of all stakeholders in the Group.

This is another significant milestone in the execution of the Group's strategy to become a stronger, safer and more focused institution capable of delivering appropriate shareholder returns over the medium term. It follows the Group's successful return to the debt capital markets and the full repayment of Emergency Liquidity Assistance funding since the start of 2017.

HSBC Bank plc acted as adviser to the London listing and Cyprus Investment and Securities Corporation Limited ("CISCO") as the lead manager in relation to the listing in Cyprus. Sidley Austin acted as English and US legal advisers, and Chryssafinis & Polyviou LLC acted as Cypriot legal advisors, to the Group.

Dr. Josef Ackermann, Chairman of BOC Holdings, said:

"We are very pleased to see our shares commence trading on the LSE, which is a tremendous achievement. We expect this listing, on one of the world's leading international markets, to facilitate greater profile, liquidity and market access.

The listing of BOC Holdings on the LSE enables us to fulfil a long-standing commitment to shareholders. It also constitutes an additional major milestone in the transformation of the Group and its strategy to enhance its financial strength. We welcome the increased engagement with market participants and meeting the highest standards in corporate governance and transparency.

The Group will act as a flag carrier for Cyprus on international markets raising the country's profile as a destination for foreign investment.

We are grateful to our shareholders for their overwhelming support for the London listing and look forward to their continued support, as well as to welcoming new shareholders to BOC Holdings."

Further information about BOC Holdings is available on the Group's website http://www.bankofcyprus.com (please select the "Investor Relations" link).

The ordinary shares have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act") or under the securities laws of any state or other jurisdiction of the United States and have been issued in reliance upon the exemption from the registration requirements of the US Securities Act provided by Section 3(a)(10). The ordinary shares have not been approved or disapproved by the SEC, any state securities commission in the United States or any other US regulatory authority, nor have such authorities passed upon or determined the fairness or merits of the ordinary shares or upon the adequacy or accuracy of the information contained in this announcement.  Any representation to the contrary is a criminal offence in the United States.

Group Profile

Founded in 1899, Bank of Cyprus Group is the leading banking and financial services group in Cyprus. The Group provides a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. The Group operates through a total of 129 branches, of which 123 operate in Cyprus, 1 in Romania, 4 in the United Kingdom and 1 in the Channel Islands. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The Bank of Cyprus Group employs 4.229 staff worldwide. At 30 September 2016, the Group's Total Assets amounted to €22,4 bn and Total Equity was €3,1 bn.

 

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