Cancellation of Listing of the Global Depository Receipts ("GDRs") on the Moscow Exchange (“MoEX”)
Noventiq has now de-listed its GDRs from trading on MoEX.
27 September 2023, London, UK - Noventiq, the global digital transformation and cybersecurity solutions and services provider, has announced the cancellation of listing of its GDR’s on the Moscow Exchange, effective 27 September 2023.
Further to the announcement made by the Company on 22 June 2023, and the subsequent cancellation of the listing of the Company’s GDRs on the LSE on 26 July 2023, the company has now de-listed its GDRs from trading on MoEX. Delisting on LSE and MoEX is a condition of the business combination with Corner Growth Acquisition Corp which was announced on 4 May 2023.
The board has continued to evaluate options designed to ensure that the significant fundamental value of Noventiq is properly reflected by the market. On 4th May 2023, the company announced its intention to list on Nasdaq through a business combination with Corner Growth Acquisition Corp. Business Combination Agreement. The company subsequently conducted a conference call webcast on 13th June 2023 with details on Noventiq’s business momentum and its BCA with Corner Growth, as well as its business outlook for FY24. This included a company presentation available for investors: Noventiq equity story.
Further to the announcement on 24th January 2023 of its intention to re-domicile the company from Cyprus to the Cayman Islands: Re-domiciliation, shareholders approved all resolutions in relation to the transaction at the general meeting held on the 15th February 2023: GM Result 15 Feb 2023. Noventiq completed the re-domiciliation, effective 26th July 2023: Re-domiciliation completion.
Further to the announcement made by the Company on 22nd June 2023, the cancellation of the listing of the Company’s GDRs on the LSE became effective on 26th July 2023. Delisting on LSE and MoEX is a condition of the business combination with Corner Growth Acquisition Corp, and given the multiple trading venues involved, the Company initiated the process in June as a natural step to ensure the delistings are completed in a timely manner and do not impact completion of the business combination.
Noventiq (Noventiq Holdings plc) is a leading global solutions and services provider in digital transformation and cybersecurity, headquartered in London. The company enables, facilitates, and accelerates digital transformation for its customers’ businesses, connecting 80,000+ organizations across all sectors with a vast selection of best-in-class IT vendors, alongside its own services and solutions.
Noventiq delivered record gross revenue of $1.6 billion for the 12 months to March 31, 2023, an increase of 52% in constant currency. The company’s growth is underpinned by its three-dimensional strategy to expand its markets, portfolio, and sales channels. The strategy is supported by an active approach to M&As, which enables Noventiq to take advantage of the ongoing consolidation in the industry. Noventiq's 6,400 employees work in ~60 countries throughout Asia, Latin America, Europe, Middle East, and Africa—markets with significant growth potential.
In May 2023, Noventiq announced its intent to list on Nasdaq through a proposed business combination with Corner Growth Acquisition Corp.
Additional information about the company can be found here: https://noventiq.com/investor-relations
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