Just Eat Takeaway.com files for SEC deregistration

Citing low trading volumes of the company’s securities in the US, Just Eat Takeaway.com says the deregistration will reduce reporting costs and complexity.
Just Eat Takeaway.com files for SEC deregistration

In line with the company’s delisting of its American Depositary Receipts (“ADRs”) from the Nasdaq Global Select Market on 14 March 2022, and having completed the mandatory 12-month waiting period, Amsterdam’s Just Eat Takeaway.com is now set to file Form 15F with the Securities and Exchange Commission, effectively revoking the registration of their securities.

The deregistration is set to become effective 90 days post-filing.

According to Just Eat Takeaway.com the logic behind the deregistration revolves around the low trading volumes of its securities in the US, coupled with costs including auditing, legal, and other miscellaneous expenses associated with being registered under the Exchange Act.

Additional considerations include, “the burdens placed on company management to comply with the continued reporting requirements in the United States are significant and are not considered to be offset by the benefits from having its securities registered under the Exchange Act.”

Just Eat Takeaway.com will continue to be listed on Euronext Amsterdam and the London Stock Exchange, where today’s share price is trading at 1,649.00 GBX at a gain of 0.28% today.

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