Superdry Delists from London Stock Exchange: Shares Now Trade on JP Jenkins Platform
Superdry has officially delisted its ordinary shares from the London Stock Exchange’s main market. The company announced in a stock market statement that the last day of trading in Superdry’s ordinary shares on the main market was July 12, 2024, with the delisting becoming effective on July 15, 2024.
The company’s ordinary shares are now traded on the JP Jenkins securities matching platform. JP Jenkins provides a venue for trading unlisted or unquoted assets, allowing shareholders and prospective investors to buy and sell shares on a matched bargain basis.
“Trades will be conducted at a level that JP Jenkins is able to match a willing seller and a willing buyer,” the company added in its statement. JP Jenkins operates under the trading name of InfinitX Limited and is an Appointed Representative of Prosper Capital LLP.
Superdry’s move to delist from the London Stock Exchange means that Peel Hunt LLP has ceased to act as sponsor, financial adviser, and corporate broker to the company. This transition marks a significant shift for the fashion retailer as it navigates the complexities of trading outside the main market.
The decision to delist was made to align with the company’s strategic goals and provide a more flexible trading environment for its shares. By moving to the JP Jenkins platform, Superdry aims to maintain shareholder value and offer an alternative venue for trading its shares.
The delisting reflects a broader trend among companies seeking to reduce regulatory burdens and costs associated with being listed on major stock exchanges. For Superdry, the move is expected to streamline operations and focus on core business activities without the pressures of maintaining a public listing on the London Stock Exchange.
Superdry’s transition to the JP Jenkins platform is designed to ensure that existing shareholders and potential investors continue to have opportunities to trade shares, albeit in a different market setting. The company remains committed to its growth strategy and believes that the delisting will not affect its operational capabilities or strategic objectives.
As the company embarks on this new chapter, it continues to explore ways to enhance shareholder value and drive long-term growth. The shift to JP Jenkins represents a strategic decision aimed at optimizing Superdry’s market position and financial flexibility.