Friday 26th March 2021
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The Telstra Board has resolved to delist from the Main Board of NZX Limited, and move to a sole listing on the Australian Securities Exchange. NZ RegCo has approved the delisting, subject to Telstra meeting certain conditions.
The trading of Telstra shares on NZX will cease at the close of business on Wednesday 16 June 2021. NZX shares will be transferred to the ASX, and there will be no NZX trading, on Thursday 17 June and Friday 18 June 2021. Telstra will be delisted from NZX from the close of business on Friday 18 June 2021. The sole listing on the ASX will commence at the opening of the next trading day on Monday 21 June 2021.
Telstra is looking to simplify its administration and streamline its shareholder services. Telstra shareholders on the New Zealand register have been reducing over time and, given the accessibility of the ASX to New Zealand-based shareholders, Telstra considers that delisting is an appropriate step. Delisting from NZX and moving to a single listing on the ASX will progress these goals and we believe this is in the best interests of shareholders and the company.
Shareholders who hold Telstra shares on NZX will automatically be transferred to the ASX and no action is required from shareholders to facilitate this process. New Zealand shareholders will still be able to trade Telstra shares through any New Zealand stockbroker who can facilitate trading through the ASX, or by dealing through an Australian stockbroker.
Telstra will shortly send the attached letter to NZX registered shareholders outlining the delisting process.
Please see the links below for details:
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