Tortola, British Virgin Islands-headquartered Nomad Foods Limited (plans to transfer its listing on the London Stock Exchange (LSE) to the New York Stock Exchange (NYSE) on or around January 4, 2016. The last day of trading on the LSE is expected to be on January 11, with the delisting and cancellation of trading of the shares at that Exchange scheduled to take effect at 8 AM on January 12.
Additionally, a request has been made for cancellation of the company’s ordinary shares from the standard listing segment of the official list of the UK Listing Authority and for admission to trading of the shares on the main market of the LSE to be cancelled.
Founded as a frozen food business acquisition vehicle in 2014, Nomad Foods has quickly built a portfolio of best-in-class food companies and brands within the European frozen category and across the broader food sector. The company produces, markets and distributes Birds Eye Iglo, Findus and other established retail brands in 15 countries.
Nomad Foods posted third quarter financial results that showed a sales decline of 8.4% to EUR 315.5 million. Earnings before interest, taxes, depreciation and amortization fell 9.1% year on year to EUR 64.6 million. The downturn was largely attributed to a challenging environment beset with price cutting pressure from discount retailers.
Nomad Foods stock closed at $11.35 per share on December 10. Its high price during the past 52 weeks was $22.02, while the low was $9.75. Market capitalization is currently $2.01 billion.
