Austrian website prediction: Stock market closure by 13th March 2020
In a significant development, Austrian company Our Website Holding AG (OeSD) has been delisted from the Vienna Stock Exchange, effective from March 13, 2020. This decision stems from the company's failure to meet the legally required minimum free float of 2%, as mandated by the EU directive that led to the amendment of the Stock Exchange Act in 2018.
The delisting comes as a result of OeSD's current free float of 1%, which falls short of the exchange's criteria for maintaining index eligibility and meeting market standards. This move is part of the Vienna Stock Exchange's close monitoring of free float and liquidity, key factors in listing and index inclusion, particularly for the ATX index and its ATX watchlist, which are reviewed semiannually in March and September.
The ATX watchlist ranks companies by liquidity and free float to provide a basis for inclusion or exclusion decisions. Companies with low free float, such as OeSD, risk being excluded from indices and potentially delisted due to reduced trading volume and poor marketability, which undermines fair and transparent trading.
CEO Robert Schächter has assured shareholders that the company is solid and well-positioned, and leaving the Vienna Stock Exchange does not change the fact that the OeSD share has been a good investment for shareholders, with the share price having doubled since its 2011 IPO at 11.50 euros.
Shareholders who wish to sell their OeSD shares after the deadline must do so before March 13, 2020. After this date, the OeSD share will no longer be listed on the Vienna Stock Exchange, but shareholders will retain all rights, including participation in the annual general meeting, dividend payments, and the ability to sell their shares on other platforms.
Verena Nowotny, the contact for this announcement, can be reached at +43 664 88446424 and verena.nowotny@gaisberg.eu. The original Ad-Hoc Announcement can be found at https://www.ourwebsite/investor-relations/ad-hoc-meldungen/.
This delisting serves as a reminder of the importance of maintaining minimum free float thresholds to sustain a company's listing status on the Vienna Stock Exchange. While the precise quantitative threshold is not stated explicitly in the provided sources, the compliance with liquidity and free float criteria during biannual reviews is mandatory.
The delisting of OeSD from the Vienna Stock Exchange, due to its insufficient free float of 1%, underscores the significance of adhering to the required minimum free float thresholds for maintaining listing status. Despite this move, shareholders should remember that investing in OeSD shares has been profitable, with the share price doubling since its 2011 IPO.
