GW Pharmaceuticals intends to cancel the admission of its ordinary shares on AIM on 5 December. The last day of trading on AIM will be 2 December. GW will retain its US listing on the NASDAQ Stock Exchange of American Depositary Receipts (ADRs) under ticker symbol GWPH. Existing holders of ADRs do not need to take any action as a result of this announcement. Chief executive Justin Gover said: "Since listing on NASDAQ in 2013, GW has raised nearly $800 million largely from U.S. investors which has helped transform our business and its prospects. With the vast majority of shares now held and traded in the US in the form of ADRs, the time is right to reduce the complexity and expense of a dual listing. "The proposed cancellation of the AIM listing has no impact on GW's UK presence, which has significantly increased in recent years. We remain firmly committed to bringing important products to the global market, products that are both researched and manufactured in the UK."
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