They voted by a large majority (98.35%) to delist from the LSE.
The next step will be the start of trading of the TUI share in the Prime Standard in Frankfurt at the beginning of April.
The share is expected to be admitted to the MDAX on June 24.
The listing on the London Stock Exchange will then also end.
Mathias Kiep, CFO of TUI Group: “We are pleased that TUI’s shareholders have followed our recommendation and voted in favour of the London Stock Market delisting.”
“Trading in TUI shares had already shifted to Germany to a large extent. The advantages of a main listing in Frankfurt are obvious: the structures are simplified, liquidity is centralised and improved in one trading venue.”
TUI had already been approached by various investors last year as to whether the dual stock exchange listing was still optimal.
In recent years, the ownership structure of TUI shares has changed significantly and there has been a marked shift in liquidity from the UK to Germany, it said.
Currently, around 77% of share transactions are settled directly via the German share register.
Less than a quarter of trading in TUI shares takes place in the form of UK depositary interests.
Tags: Mathias Kiep, TUI Group, TUI shareholders
