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UBM to delist from Nasdaq, terminate ADR program

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London—United Business Media announced Wednesday that it intends to delist voluntarily from the Nasdaq National Market and to terminate its American Depositary Receipt (ADR) program. Both the delisting and the termination will take place at the close of trading on March 22.

In a press release, UBM said, "This decision was based on the uneconomic nature of maintaining this very thinly traded security."

The large majority of UBM’s U.S. shareholder base holds shares of the company on the London Stock Exchange, where more than 99.95% of trading in UBM takes place, according to the company.

—Sean Callahan

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