NYSE to Commence Delisting Proceedings Against Cazoo Group Ltd (CZOO)
May 21 2024 - 4:16PM
Business Wire
The New York Stock Exchange (“NYSE”, the “Exchange”) announced
today that the staff of NYSE Regulation has determined to commence
proceedings to delist the Class A ordinary shares of Cazoo Group
Ltd (the “Company”) — ticker symbol CZOO — from the NYSE. Trading
in the Company’s Class A ordinary shares will be suspended
immediately.
NYSE Regulation reached its decision that the Company is no
longer suitable for listing pursuant to NYSE Listed Company Manual
Section 802.01D after the Company’s May 21, 2024 Form 6-K and press
release disclosures that certain of the Company’s material
subsidiaries have voluntarily filed for administration in the
United Kingdom and the Company’s board of directors have determined
that it is in the best interests of the Company and its
stakeholders to commence a winding up of the Company. In reaching
its delisting determination, NYSE Regulation notes the Company’s
board of directors does not presently expect that there will be any
remaining proceeds for the Company’s shareholders as a result of
the winding up process.
The Company has a right to a review of this determination by a
Committee of the Board of Directors of the Exchange. The NYSE will
apply to the Securities and Exchange Commission to delist the Class
A ordinary shares upon completion of all applicable procedures,
including any appeal by the Company of the NYSE Regulation staff’s
decision.
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Company Contact: Investor
Relations: investors@cazoo.co.uk
NYSE Contact: NYSE
Communications PublicRelations-NYSE@ice.com