NYSE to commence delisting proceedings against Cazoo

The New York Stock Exchange announced that the staff of NYSE Regulation has determined to commence proceedings to delist the Class A ordinary shares of Cazoo Group – ticker symbol CZOO – from the NYSE. Trading in the company’s Class A ordinary shares will be suspended immediately. “NYSE Regulation reached its decision that the company is no longer suitable for listing pursuant to NYSE Listed Company Manual Section 802.01D after the company’s May 21 Form 6-K and press release disclosures that certain of the company’s material subsidiaries have voluntarily filed for administration in the United Kingdom and the company’s board of directors have determined that it is in the best interests of the company and its stakeholders to commence a winding up of the company. In reaching its delisting determination, NYSE Regulation notes the company’s board of directors does not presently expect that there will be any remaining proceeds for the company’s shareholders as a result of the winding up process. The company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Class A ordinary shares upon completion of all applicable procedures, including any appeal by the company of the NYSE Regulation staff’s decision,” NYSE stated.