DUBAI, United Arab Emirates/ London, UK - Thursday, May 26th 2011 [ME NewsWire]
This announcement is an advertisement and not a prospectus. Investors should not purchase any transferable securities referred to in this announcement except on the basis of information in the prospectus published by DP World Limited in connection with the admission of its ordinary shares to the official list of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities.
DP World Limited (‘DP World’ or ’the Company’), one of the largest marine terminal operators in the world, is pleased to announce that it has today published its Prospectus containing details of the admission of Ordinary Shares to listing on the Official List and to trading on the main market of the London Stock Exchange. It is anticipated that, subject to the approval of the UK Listing Authority, the first day of trading will be Wednesday 1 June 2011.
DP World believes that a dual listing between the London Stock Exchange and Nasdaq Dubai will help attract a broader range of investors.
DP World’s operational performance has been very strong since listing in 2007, outperforming the industry, in part because 75% of its container volumes come from the faster growing emerging markets led by a strong performance in flagship terminal Jebel Ali in the UAE.
On 11May 2011, DP World announced that the return to sustained container volume growth which was seen in 2010 had continued into the current year. In the first quarter of 2011, gross volumes grew by 12% to 12.6 million TEU across its 49 operational terminals.
With a track record of over three years as a listed Company, DP World already supports Corporate Governance standards that are required for a Premium listing on the London Stock Exchange.
Sultan Ahmed Bin Sulayem, Chairman, DP World,commented:
“We are delighted that DP World will be listed on the London Stock Exchange from 1 June 2011 providing access to its shares for a larger number of investors. As the only listed global port operator, DP World provides investors with a unique opportunity to invest in the long term growth opportunities in the industry, exposure to faster growing emerging markets and to invest in a Company at the heart of global trade.”
Mohammed Sharaf, Chief Executive Officer, DP World, commented:
‘‘The listing on the London Stock Exchange is a major milestone in the evolution of DP World positioning us alongside some of the world’s leading companies, and we very much look forward to the opportunities that may bring.”
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Notes
A copy of the Prospectus will today be submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm.doand also on DP World’s website at www.dpworld.com. DP World's registered address is Level 5, LOB 17, Jebel Ali Free Zone, PO Box 17000, Dubai, UAE.
An expected timetable of principal events is set out below:
Event
Timing
Prospectus published
Wednesday 25 May 2011
Admission and expected commencement of unconditional dealings in Ordinary Shares on the London Stock Exchange
8.00 a.m. on Wednesday 1 June 2011
CREST accounts available to be credited in respect of Depository Interests
8.00 a.m. on Wednesday 1 June 2011
Each of the times and dates in the timetable set out above is subject to change without further notice. References to a time of day are to the time in London (UK).
Contacts
Investors:
DP World
Fiona Piper
+44 (0) 7919 175602
Media:
DP World
Sarah Lockie/ Natasha Bukhari
+ 971 (0) 4 8080 741
Jon Coles / Chris Blundell
Brunswick
+ 44 (0) 20 7404 5959
Citi
David James / Simon Lindsay
+44 207 986 4000
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