British Telecommunications plc (BT plc) hereby announces its intention to file a Form 15F with the US Securities and Exchange Commission (SEC) to deregister all of its registered debt securities and expects deregistration to become effective 90 days later. The decision to delist and deregister is aimed at reducing reporting costs and complexity whilst maintaining the highest standards of corporate governance and transparent financial reporting.
BT plc notes the announcement made by its parent company, BT Group plc, with respect to its intention to delist its American Depositary Shares from the New York Stock Exchange, terminate its American Depositary Receipts programme and to deregister its equity securities and terminate its reporting obligations with the SEC. The full text of the announcement can be found at http://www.morningstar.co.uk/uk/NSM
BT plc will continue to positively engage with US debt investors, and its obligations to its existing bondholders will not be affected by the deregistration.
BT plc reserves the right to delay these filings or to withdraw them prior to their effectiveness, and to otherwise change its plans in this regard.
The person responsible for making this announcement is Rachel Canham, BT Group’s Company Secretary.