Depa confirms date of conversion of listing currency to DirhamsFeb 1 ,2018
Nasdaq Dubai Release
Depa Limited / DEPA:DU
1 February 2018
Depa Limited (“Depa”), the leading global interior solutions group, confirms the following timings in respect of the conversion of its listing currency on the Nasdaq Dubai from US Dollar to UAE Dirhams:
|Last day of trading in US Dollars:||6 March 2018|
|Trading halt:||7 and 8 March 2018|
|Commencement of trading in UAE Dirhams:||11 March 2018|
The redenomination of its listing currency from US Dollars to UAE Dirhams is expected to increase the attractiveness of the shares to the regional institutional and retail investor bases, which should lead to increased investor interest, improved liquidity and more efficient pricing.
The trading symbol for Depa (DEPA:DU) will remain unchanged as a result of the conversion.
Hamish Tyrwhitt, Depa’s Group Chief Executive Officer commented: “The conversion of our listing currency to UAE Dirhams, in conjunction with the other many actions that we have taken, will lead to enhanced liquidity of Depa’s shares and the generation of sustainable value for Depa’s shareholders.
“A UAE Dirham denominated listing should attract more regional investors, both institutional and retail; especially those who have traditionally found trading in USD to be a deterring factor.”
For further information, please contact:
Tel: + 971 4 446 2100
For more information, please refer to the corporate website: www.depa.com
Notes to editors:
Depa is a strategic management company specialising in global interior solutions. Depa’s four Key Business Units hold leading positions in their respective markets: Design Studio, Vedder, Depa Interiors Group and Deco Group. Employing thousands of people worldwide, the Group’s operations are centred on three regional hubs: Asia, Europe and the Middle East.
Depa’s mission, shared by each of its Key Business Units, is to deliver sustainability, profitability and performance for our clients, shareholders and employees. The Group’s five core values are integral to everything Depa does: transparency, integrity, accountability, professionalism and exceptional service.
Depa Limited is listed on the Nasdaq Dubai (DEPA:DU) and is headquartered in Dubai, United Arab Emirates.
This document contains certain 'forward looking statements' with respect to Depa's financial condition; results of operations and business; and certain of Depa's plans and objectives with respect to these items. By their very nature, forward looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that may occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward looking statements. All written or verbal forward looking statements, made in this document or made subsequently, which are attributable to Depa or any other member of the Group or persons acting on their behalf are expressly qualified on this basis. Depa does not intend to update these forward looking statements.