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Signet Jewelers to delist from London Stock Exchange
Signet Jewelers, the US based owner of H Samuel and Ernest Jones, has announced that it intends to delist from the London Stock Exchange.
In a statement, the company said it had arrived at the decision because of the lack of liquidity on the LSE and to streamline administrative procedures and reduce costs from maintaining two listings.
In addition, the Signet board conducted a review of the company’s stock exchange listings last year and analysed the level of trading and activity to determine the most effective way of servicing shareholders. The review found that the total trades placed on the LSE in 2014 equalled around five days of trading on US exchanges. As a result the board resolved to delist the shares from trading on the LSE.
In January, Signet reported that its group like-for-like sales grew by 4.9% in the eight weeks to 27 December. Like-for-like sales at H Samuel and Ernest Jones rose by 1.6% and 6.9% respectively.