On Friday, GraniteShares Financial PLC announced the early redemption and delisting of certain Exchange-Traded Product (ETP) securities from the London Stock Exchange (LON:LSEG), effective immediately after the market close on the same day. The affected ETPs include leveraged positions on Airbus and Volkswagen (ETR:VOWG_p), specifically the GraniteShares 3x Long Airbus Daily ETP Securities (LSE:LAR3) and GraniteShares 3x Short Airbus Daily ETP Securities (LSE:SAR3), as well as GraniteShares 3x Long Volkswagen Daily ETP Securities (LSE:LVW3) and GraniteShares 3x Short Volkswagen Daily ETP Securities (LSE:SVW3).
The company has chosen November 26, 2024, as the Early Redemption Date for these classes of ETP Securities. On this date, the Early Termination Amount for each class will be determined, and securityholders will be entitled to the Value per ETP Securities, which will be calculated and multiplied by the number of ETP Securities they hold on the record day.
GraniteShares Financial PLC has made the necessary applications to the Financial Conduct Authority (FCA) for the removal of these securities from the official list and to the London Stock Exchange to cease trading on their regulated market. Shareholders looking to sell these securities have been advised to do so by the close of trading on Friday, as the securities will not be tradable after this date.
The payment to the securityholders is expected to be made through Euroclear Bank on November 29, 2024. The details of the affected ETP Securities, including their tickers, SEDOL, ISIN, and the last trading day, were explicitly listed in the notice. This move follows the conditions outlined in the Issue Deed related to the ETP Securities, and the notice was officially given by GraniteShares Financial PLC, headquartered in Dublin, Ireland.
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