PRESS: Unilever UK Shareholders Warn Over Corporate Restructuring Plan

23rd Mar 2018 08:45

LONDON (Alliance News) - One of the top shareholders of Unilever PLC has criticised the company for failing to consult UK investors over its last week's decision to create a single legal base in Rotterdam, Netherlands, The Financial Times reported Thursday.

Iain Richards, head of responsible investment at Columbia Threadneedle Investments, has warned "they [Unilever] need to do more to convince UK shareholders of the merits of the move," since the company has to have the agreement of 75% of UK investors, according to the newspaper.

Another shareholder, which did not wish to be identified, said it it might vote against the company's decision if that would mean the company falling out of the FTSE 100 Index, FT reported.

Unilever intends to seek a premium listing in London and will continue to be listed on the Amsterdam and New York stock exchanges.

https://www.ft.com/content/b7b4646c-2df6-11e8-9b4b-bc4b9f08f381?segmentId=080b04f5-af92-ae6f-0513-095d44fb3577

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