Amsterdam / NL. (tkwy) Just Eat Takeaway.com N.V., hereafter the «Company» or together with its subsidiaries «Just Eat Takeaway.com», one of the world’s largest online food delivery marketplaces, will file for deregistration of its securities under the Securities and Exchange Act of 1934. Deregistration of its securities from the Securities and Exchange Commission of the United States of America (SEC) will reduce reporting costs and complexity.
As announced on 08 February 2022, the Company voluntarily delisted its American Depositary Receipts (ADRs) from the Nasdaq Global Select Market on 14 March 2022. As a result, the Company’s ADRs are quoted and traded in the United States on the OTC Markets via a sponsored Level I Program via the ticker JTKWY. Following the delisting and the mandatory 12-month waiting period from the date of delisting, the Company has now met the criteria for deregistration of its securities under the Exchange Act and therefore intends to file a Form 15F with the SEC. Deregistration is expected to become effective 90 days after the filing of the Form 15F.
The Company’s main considerations for the deregistration are the low trading volumes of the Company’s securities in the United States. In addition, the costs and expenses associated with being registered under the Exchange Act, the auditing, legal and other costs associated with continuing to make SEC filings, and 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. The Company’s ordinary shares will remain listed on Euronext Amsterdam and on the London Stock Exchange.