BRAIT’s plans to seek a listing in London were not driven by the Brexit vote or the subsequent negotiations, the investment holding company said on Thursday.The move, proposed to shareholders on Wednesday, would see Brait moving its registered office from Malta to the UK. Its secondary listing on the JSE would not be affected.Brait would still be subject to EU company laws, allowing further transfers of its registered office to other European Economic Area countries without having to dissolve the company. It can also convert to a UK public limited company.This has given Brait the option of staying in the eurozone or executing its own Brexit.But a spokesman, responding to questions directed at CEO John Gnodde, said the transfer was a "preparatory move" for a premium listing on the London Stock Exchange and an inclusion in the FTSE UK index series, which had nothing to do with Britain’s vote to leave the EU."Across its portfolio companies, the UK is the largest market in which Brait i...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.