The ordinary shares of Transcom WorldWide AB approved for trading on Nasdaq Stockholm
Luxembourg, 7 November 2014 – In the context of Transcom’s ongoing re-domiciliation process, the Listing Committee of Nasdaq Stockholm has approved the ordinary shares of Transcom WorldWide AB (publ) for trading on the exchange.
Following this approval by the Listing Committee, there are no remaining material conditions for the re-domiciliation of the parent company of the Transcom Group from Luxembourg to Sweden. The preparations for the implementation of the re-domiciliation and merger are going according to plan. This means that the following, previously announced, indicative dates should be final (subject only to the SCRO registration occurring on 26 November 2014 as intended):
- 24 November 2014 - expected last day of trading on Nasdaq Stockholm in the SDRs of Transcom WorldWide S.A.
- 26 November 2014 - the day on which the SCRO is expected to finally register the merger as having been implemented, meaning inter alia that this day is also the record day for determining who is entitled to receive merger consideration in the form of ordinary shares issued by the new Swedish parent company Transcom WorldWide AB (publ).
- 28 November 2014 - the expected first day of trading on Nasdaq Stockholm in the ordinary shares of Transcom WorldWide AB (under the ticker TWW).
As previously communicated, the above means that there will be a necessary trading halt during the period 25-27 November 2014, as no trading will be possible in the SDRs of Transcom WorldWide S.A. during those three days, nor in the ordinary shares of Transcom WorldWide AB.
As previously announced, Transcom will execute a 1:50 reverse split following the re-domiciliation (currently intended to be executed during the period 10-12 December 2014). Further information on the reverse split, including as regards the handling of fractions of shares, will follow as soon as possible.
“I am pleased that the Listing Committee of Nasdaq Stockholm has now given its approval. We are in the process of finalizing the preparations for the implementation of the re-domiciliation and merger, which will benefit the Group and our shareholders. We will now align Transcom’s legal domicile with that of its owners, the majority of whom are Swedish. General meetings of the shareholders will be held in Sweden rather than in Luxembourg, facilitating shareholder participation. In addition, Transcom will no longer be bound by dual legal systems, which will lower costs and simplify the execution of corporate actions. We will also have a listing structure that is simpler and less costly, as we are abandoning the SDR system. Transcom’s ordinary shares will be directly admitted to trading on Nasdaq Stockholm. Finally, we will establish one single class of listed shares, offering the potential of increased liquidity”, commented Johan Eriksson, Transcom’s President and CEO.
For additional details on the re-domiciliation of the parent company of the Transcom Group from Luxembourg to Sweden, please refer to Transcom’s website at www.transcom.com/redom.
For further information, please contact:
Johan Eriksson, President and CEO
Telephone +46 70 776 80 22
Pär Christiansen, CFO
Telephone +46 70 776 80 16
Stefan Pettersson, Head of Group Communications
Telephone +46 70 776 80 88
Transcom is a global customer experience specialist, providing customer care, sales, technical support and collections services through our extensive network of contact centers and work-at-home agents. We are 29,000 customer experience specialists at 54 contact centers across 23 countries, delivering services in 33 languages to over 400 international brands in various industry verticals. Transcom WorldWide S.A. Class A and Class B shares are listed on the Nasdaq Stockholm Exchange under the symbols TWW SDB A and TWW SDB B.