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British Telecommunications plc announces intention to deregister and terminate reporting obligations with the SEC


WEBWIRE

British Telecommunications plc (BT plc) hereby announces its intention to file a Form 15F with the US Securities and Exchange Commission (SEC) to deregister all of its registered debt securities and expects deregistration to become effective 90 days later. The decision to delist and deregister is aimed at reducing reporting costs and complexity whilst maintaining the highest standards of corporate governance and transparent financial reporting.

BT plc notes the announcement made by its parent company, BT Group plc, with respect to its intention to delist its American Depositary Shares from the New York Stock Exchange, terminate its American Depositary Receipts programme and to deregister its equity securities and terminate its reporting obligations with the SEC. The full text of the announcement can be found at†http://www.morningstar.co.uk/uk/NSM

BT plc will continue to positively engage with US debt investors, and its obligations to its existing bondholders will not be affected by the deregistration.

BT plc reserves the right to delay these filings or to withdraw them prior to their effectiveness, and to otherwise change its plans in this regard.

The person responsible for making this announcement is Rachel Canham, BT Groupís Company Secretary.

About BT

BTís purpose is to use the power of communications to make a better world. It is one of the worldís leading providers of communications services and solutions, serving customers in 180 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband, TV and internet products and services; and converged fixed-mobile products and services. BT consists of four customer-facing units: Consumer, Enterprise, Global and Openreach.

For the year ended 31 March 2019, BT Groupís reported revenue was £23,428m with reported profit before taxation of £2,666m.

British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York.


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