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Baltic Classifieds to switch London trading currency to euro cents

Provided by Alliance News

(Alliance News) - Baltic Classifieds Group PLC on Wednesday said it intends to change the currency in which its shares trade on the London Stock Exchange from pence to euro cents.

The online classified ads provider in Lithuania, Estonia and Latvia said it expects the change to take effect at the beginning of September.

Baltic Classifieds generates its revenue and earnings in euros and reports its financial results in the currency.

It said aligning the trading currency of its shares with its financial reporting "will provide greater consistency between the company's share price and its financial reporting, eliminate the GBP/EUR translation effect on the quoted share price and simplify the investment case".

The company said the change will not otherwise affect its London listing. It will remain a member of the FTSE 250 index.

Shares in Baltic Classifieds were down 2.0% at 206.00 pence on Wednesday afternoon in London.

By Niall Hold

By Niall Holden, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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