United Utilities and ICI drop New York listings

0 Comments Published by claudia June 1st, 2007 in News, SOX, Europe, North America, Company News, Sarbox Tags: , , , , , , .

Two more UK companies have announced they will delist their shares from the New York stock market to avoid the burden of complying with legislation such as the Sarbanes-Oxley Act.

Both United Utilities and ICI expect to cut their compliance costs by millions of pounds a year by dropping their secondary listings in the US.

Warrington-based United Utilities, which operates electricity and water networks, said today it was running up “significant costs” by complying with the US Securities Exchange Act and Sarbanes-Oxley.

Business Guardian: United Utilities and ICI drop New York listings

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