Royal Caribbean Cruises announced that it has filed an application for the voluntary delisting of its shares from the Oslo Stock Exchange.
At the annual meeting held earlier this year, the Company's shareholders demonstrated strong support for this move, with over 93% of the votes cast in favor. The Company's delisting application is subject to approval by Oslo Børs. The company intends to take a number of steps to minimize inconvenience to impacted shareholders. Firstly, the company plans to maintain its OSE listing for a minimum of three months. In addition, the company will assist shareholders to transfer their shares to the New York Stock Exchange, where the Company's shares will continue to trade without interruption.
In the motion approved by shareholders, it was explained that the benefits of maintaining a secondary listing on the Oslo Børs had been outweighed by the additional costs and regulatory requirements associated with the secondary listing. The company intends to return to a single listing on the NYSE, which has been RCL's primary listing since the company first offered shares to the public in 1993.
"Norway plays an important part in Royal Caribbean's history, and we appreciate the support we continue to receive from our investors here," said Jason T. Liberty, the company's chief financial officer. "We remain appreciative of our long partnership with the Oslo Børs, and we intend to do all we can to encourage continued participation by our Norwegian shareholders and to create a smooth transition for those shareholders who do not intend to remain."