Spirent Communications will delist its American Depositary Shares (“ADS”) from the New York Stock Exchange (“NYSE”) and to deregister from the US Securities and Exchange Commission (“SEC”). The company said the average daily trading volume of shares represented by its ADS is very
small, accounting for 0.5% of the total number of Spirent Ordinary shares traded in the most recent 12 month period. In light of this level of trading activity and the recent adoption of new rules by the SEC regarding the termination of reporting obligations under US securities laws, Spirent believes that the administrative burden and increasing costs associated with maintaining its listing on the NYSE and the reporting requirements necessary for its registration with the SEC under the US Securities Exchange Act of 1934 (“the Exchange Act”) outweigh the benefits to Spirent and its shareholders.
http://www.spirent.com
