(Enel Américas, 1.Jul.2022) — Enel Américas S.A. (NYSE: ENIAY) announced that its Board of Directors has unanimously approved the voluntary delisting of its outstanding 4.00% Notes due 25 October 2026 (NYSE: ENIA26A) and 6.60% Notes due 1 December 2026 (NYSE: ENIA26) (collectively, the “Notes”) from The New York Stock Exchange (the “NYSE“) and deregistration with the U.S. Securities and Exchange Commission (the “SEC“) upon satisfaction of the requirements for deregistration. In connection with its intended delisting, Enel Américas notified the NYSE today that it will apply for voluntary delisting of the Notes and has requested that the Notes be suspended from trading on 21 July 2022. As a result, the last day of trading for the Notes on the NYSE is expected to be on 20July 2022.
1. Reasons for the Application for Voluntary Delisting of the Notes from the NYSE
On 31 May 2022, Enel Américas announced its intention to voluntarily delist its American Depositary Shares (“ADSs”) from the NYSE, to terminate its American Depositary Receipt facility and to deregister with the SEC upon satisfaction of the requirements for deregistration under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Given these circumstances, Enel Américas has concluded that the costs of compliance, the demand of management’s time and resources required to maintain the listing of the Notes on the NYSE and to satisfy the periodic reporting obligations applicable to the Notes under the Exchange Act are greater than the benefits received by Enel Américas and the holders of the Notes. As a result, Enel Américas has decided to file an application for voluntary delisting of the Notes from the NYSE as part of its effort to reduce operational expenses.
2. No Other Listing of the Notes
Enel Américas has not arranged for the listing of the Notes on another national securities exchange in the United States or for quotation of such securities in any other quotation system.
3. Implementation Schedule of Application for Voluntary Delisting of the Notes from the NYSE*
1 July 2022 Notice to the NYSE of its application to delist the Notes
11 July 2022 (planned) Submission of Form 25 to the SEC to delist the Notes from the NYSE
20 July 2022 (planned) Last day of trading on the NYSE
21 July 2022 (planned) Notes suspended from trading on the NYSE
21 July 2022 (planned) Effective date of Form 25
* The schedule provided above, including the anticipated effective dates, may be delayed if the SEC objects to the delisting or requests an extended review or for other reasons.
5. Future Actions
On or after the effective date of the Form 25 and following satisfaction of the relevant conditions for terminating its reporting obligations Section 15(d) of the Exchange Act with respect to the Notes, Enel Américas intends to file a Form 15F to terminate its reporting obligations under Section 15(d) of the Exchange Act with respect to the Notes. Enel Américas intends to release further information on such termination of its Section 15(d) reporting obligations with respect to the Notes at a later date.
Enel Américas reserves the right, for any reason, to delay any of the filings described above, to withdraw them prior to effectiveness, and to otherwise change its plans in respect of delisting of the Notes and the termination of its reporting obligations with respect to the Notes under applicable U.S. federal securities laws in any way.
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