Glenveagh Plans to Delist From London on the 30th of November

Glenveagh Properties (LON: GLV), the Irish housebuilder, said Monday that it intends to cancel its London Stock Exchange listing from 8.00am on Monday the 30th of November. The company will keep its primary listing in Dublin, and the last day of dealings in London will be Friday the 27th of November.

Glenveagh’s Dublin-listed shares closed today at €2.345, up 0.43% from €2.335 on Friday, on volume of 660,850 shares. The London line closed unchanged at €2.34.

Glenveagh builds houses and apartments for private buyers, local authorities and the private rental market, and is based in Maynooth. In its stock exchange statement it said a review of its listing structures had weighed the level of trading activity in London against the additional cost and the regulatory and administrative obligations of keeping the listing.

Following the review, the Company has concluded that it is in the best interests of the Company and its shareholders to proceed with the LSE Delisting.

Glenveagh Properties

The company has asked the UK’s Financial Conduct Authority to cancel the listing on the Official List and the London Stock Exchange to cancel admission of its shares to trading. It cites Listing Rule 21.2.17, which requires at least 20 business days’ notice, and describes the 30th of November date as expected.

Nothing changes at the primary listing on Euronext Dublin, the Irish exchange. Glenveagh said it will continue to meet its current continuing obligations and apply the Irish Corporate Governance Code 2024. The statement offers no guidance to UK holders.

London trading looks thin next to Dublin. Daily volume on the London Stock Exchange ranged from zero to 101,756 shares between the 1st and the 19th of October, against roughly 0.6 million to 1.6 million in Dublin, a comparison drawn from exchange data and not a statement by the company.