Greencore is seeking inclusion in the FTSE UK Index Series, as its business continues to shift away from Ireland.
The firm said that in recent years the profile of its operations has changed from its Irish beginnings “to one which now has the majority of its turnover, operating profits and producing assets derived from or located in the UK”.
The announced acquisition of Uniq plc, in July this year, was an example of its increased its activity in the UK, said the firm.
Greencore added that the majority of the Group’s shares were held by overseas investors, and that the board believed that FTSE UK index inclusion would result in increased awareness from both UK and international investors.
In order the requirements for inclusion in the FTSE UK Series, among other stipulations a certain liquidity threshold must be met on the London Stock Exchange (LSE). Therefore with effect from the close of business on 20 January 2012, Greencore’s ordinary shares will be cancelled on the Irish Stock Exchange’s Main Securities Market.
Greencore will retain the premium listing of its ordinary shares on the Official List of the United Kingdom Listing Authority and its ordinary shares will continue to be traded on the main market for listed securities of the LSE.
From 20 January 2012 its ordinary shares listed on the LSE will trade in sterling rather than in euro.