Deletion from EPRA Index

RNS Number : 6190Z

CLS Holdings PLC

19 March 2012

 



CLS Holdings plc

("CLS" or the "Company")

Deletion from EMEA Region of the FTSE EPRA/NAREIT Global Real Estate Index

With effect from today, CLS Holdings plc has been deleted from the EMEA Region of the FTSE EPRA/NAREIT Global Real Estate Index (the "Index").  The deletion has been made on the basis that the shares in CLS failed the liquidity test of the Index ground rules (the "Ground Rules") used by EPRA for the management of the Index.

In calculating the liquidity test, the Ground Rules have reference only to the shares traded on the London Stock Exchange, and ignore shares traded on all other trading platforms.  In the year ended 29 February 2012 to which the liquidity test was applied, of the Company's shares traded, only 65.4% were traded on the London Stock Exchange.  Had the Ground Rules been applied to all shares traded, CLS would have passed the liquidity test.

Consequently, the Company has lodged an appeal with EPRA to reinstate CLS to the Index, together with a proposal that the Ground Rules be amended to reflect the fact that other trading platforms now account for a substantial and growing percentage of share trades.

-ENDS-

For further information please contact:

CLS Holdings plc	[phone]
www.clsholdings.com
Sten Mortstedt, Executive Chairman
Henry Klotz, Executive Vice Chairman
Richard Tice, Chief Executive Officer
Kinmont Limited	[phone]
Jonathan Gray
Smithfield Consultants Limited	[phone]
Alex Simmons
Liberum Capital Limited	[phone]
Chris Bowman
Tom Fyson
N+1 Brewin	[phone]
Nick Tulloch

 

END

 

 

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