The executive board and supervisory board of TUI are to propose to the annual general meeting a plan to simplify the structure of the group’s stock exchange listings, which will see the holiday giant cancel its listing on the London Stock Exchange.

Instead, the listing on the Frankfurt Stock Exchange is to be continued with an upgrade to the “Prime Standard” market segment and inclusion in the MDAX.

TUI is asking its shareholders to decide on this at the annual general meeting on 13 February 2024.

Mathias Kiep, CFO of TUI: “Following the successful merger of TUI AG and TUI Travel PC at the end of 2014, the dual stock exchange listing was the right decision and offered many advantages. In the meantime, the majority of our share’s liquidity has migrated to Germany.

“We have followed the suggestions of our shareholders and have held extensive discussions. Terminating the listing in London would offer clear advantages for investors and the company: Simplification of structures, improvement in liquidity and indexation as well as benefits for the EU ownership of our airlines. On this basis and after intensive analysis, we recommend that our shareholders vote in favour of the proposed resolution at the upcoming Annual General Meeting.

“However, in the best sense of an annual general meeting, it remains the decision of our shareholders.”
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