Hanover/London, 4 January 2024

TUI shareholders to decide on future stock exchange listing at the Annual General Meeting

  • Background:
    • Possibility to reduce complexity by listing on only one stock exchange
    • Significant liquidity migration from England to Germany in recent years, more than 75 per cent of trading in TUI shares takes place directly via the German share register and less than a quarter via UK depositary interests
  • Following consultations with shareholders, the Executive Board and Supervisory Board recommend approval of the de-listing from the London Stock Exchange
  • Existing listing in Frankfurt would continue: Group aims to upgrade to Prime Standard segment and MDAX inclusion

The Executive Board and Supervisory Board of TUI AG propose to the Annual General Meeting to simplify the structure of the Group's stock exchange listings. To this end, the listing on the London Stock Exchange is to be cancelled and the listing on the Frankfurt Stock Exchange is to be continued with an upgrade to the "Prime Standard" market segment and inclusion in the MDAX. TUI is asking its shareholders to decide on this at the Annual General Meeting on 13 February 2024.

The background to the resolution is that TUI has been approached by certain investors as to whether the current dual stock exchange listing is still optimal for the company or whether a simplification of the listings and inclusion in the MDAX would be advantageous for TUI. In recent years in particular, the ownership structure of TUI shares and liquidity on the stock exchanges have changed significantly. There has been a notable liquidity migration from the UK to Germany, around 77 per cent of share transactions are conducted directly through the German share register and less than a quarter of trading in TUI shares is carried out in the form of UK depositary interests.

Mathias Kiep, CFO of TUI: "Following the successful merger of TUI AG and TUI Travel PC at the end of 2014, the dual stock exchange listing was the right decision and offered many advantages. In the meantime, the majority of our share's liquidity has migrated to Germany. We have followed the suggestions of our shareholders and have held extensive discussions. Terminating the listing in London would offer clear advantages for investors and the company: Simplification of structures, improvement in liquidity and indexation as well as benefits for the EU ownership of our airlines. On this basis and after intensive analysis, we recommend that our shareholders vote in favour of the proposed resolution at the upcoming Annual General Meeting. However, in the best sense of an Annual General Meeting, it remains the decision of our shareholders." Subject to approval by TUI shareholders, the current timetable provides for trading in the Prime Standard market segment of the Frankfurt Stock Exchange to commence on or around 8 April 2024. The de-listing from the London Stock Exchange is expected to take place in June 2024. Inclusion in the MDAX would be planned at the same time.

About TUI Group

TUI Group is a leading global tourism group and operates worldwide. The Group is headquartered in Germany. TUI shares are listed on the FTSE 250, an index of the London Stock Exchange, on the regulated market of the Hanover Stock Exchange and on the Open Market segment of the Frankfurt Stock Exchange. The TUI Group offers integrated services from a single source for its 19 million customers.

The entire tourism value chain is covered under one roof. This includes over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 16 cruise ships, from the MS Europa and the MS Europa 2 in the luxury class and expedition ships to the Mein Schiff fleet of TUI Cruises and cruise ships at Marella Cruises in Great Britain. The Group also includes leading tour operator brands and online marketing platforms across Europe, five airlines with more than 130 modern medium and long-haul aircraft and around 1,200 travel agencies. In addition to expanding its core business with hotels, cruises via successful joint ventures and activities in holiday destinations, TUI is increasingly focusing on the expansion of digital platforms. The Group is transforming itself into a digital company.

Global responsibility for sustainable economic, ecological and social action is at the core of our corporate culture. The TUI Care Foundation, initiated by TUI, focuses on the positive effects of tourism, on education and training and on strengthening environmental and social standards with projects in 25 countries. It thus supports holiday destinations in their development.