Trading on AIM will cease on October 7, 2016 at close of business, the fund said in a press release Monday.
Shareholders wishing to continue trading NEPI shares can do so on the Johannesburg and Bucharest stock exchanges.
“Whilst NEPI remains cognizant of the interests of all shareholders, the rationale for
delisting is informed by the low volume of trade in NEPI shares on AIM which has reduced significantly. The Board has undertaken a careful review of the costs and benefits of maintaining a quotation on AIM and has concluded that the costs to the
company (including management resources and time) and regulatory requirements associated with maintaining its AIM quotation outweigh the benefits. After careful consideration, the Board has concluded that it is in the best interests of the Company and Shareholders as a whole if the Company’s admission to trading on AIM is canceled,” the company said.
NEPI’s portfolio in Romania includes shopping centers Mega Mall, Mall Promenada, Vulcan Value Center in Bucharest, Shopping City Timisoara, City Park Constanta, Ploiesti Shopping City, Braila Mall, Galati Shopping City, Shopping City Targu-Jiu, Severin Shopping Center, Shopping City Deva and others. The company also owns office buildings Floreasca Business Park, The LakeView, Aviatorilor 8 in Bucharest, City Business Centre in Timisoara, and The Office in Cluj.