Gloucestershire's Superdry delists from London Stock Exchange
Gloucestershire-based fashion retailer Superdry updated the delisting of its shares and said the last day of trading would be on Friday (July 12) and the delisting from the stock market would take effect on 8am on Monday (July 15).
The under-pressure Cheltenham company received approval from its creditors, shareholders and the court last month for a turnaround programme to avoid insolvency.
READ MORE: Superdry shakes out and looks to the future
The restructuring plan from boss Julian Dunkerton received the support of 99 per cent of creditors which attended and voted at the Plan Meetings held on June 10 this year.
In a stock market statement, Superdry said its ordinary shares will be admitted to trading on the JP Jenkins securities matching platform from July 15 this year.
JP Jenkins provides a securities matching venue for unlisted or unquoted assets in companies, enabling shareholders and prospective investors to buy and sell shares on a matched bargain basis, the company said.
Last month, it was reported that the sanction of the restructuring plan by the Court would enable the group to implement measures needed to secure its long-term future and return to profitability.
Peter SjÓ§lander, Superdry Chairman, had said: "This is an important moment for Superdry. My thanks and those of the entire Board go to the shareholders and creditors of Superdry who have supported the proposals, which will enable the business to go forward with the right structure, balance sheet and cost base to deliver its turnaround and future growth."
