11th Sep 2018 08:22
LONDON (Alliance News) - Unilever PLC said Tuesday it will delist the shares of its current UK and Dutch entities on December 21 and list shares of its new single Dutch entity on December 24, as part of a previously announced simplification strategy.
Shares of new single entity will be listed in Amsterdam, London and, in the form of American depositary shares, New York.
The Anglo-Dutch consumer good company in March said it will simplify itself into a single legal entity incorporated in the Netherlands. The company, which currently has headquarters in Rotterdam and London and two separately listed entities, a UK PLC and a Dutch NV, attributed the decision to the fact its Dutch NV shares account for 55% of the company's combined ordinary share capital and trade with greater liquidity than London-listed shares.
The Dove soap maker intends to pursue simplification of the current NV and PLC parent companies under New Unilever NV through a combined process involving a UK scheme of arrangement for PLC and a Dutch statutory legal merger for NV. One ordinary share in the capital of New Unilever NV will be issued for each NV ordinary share and for each PLC ordinary share, resulting in shareholders receiving shares in the capital of New Unilever NV that represent an equivalent economic interest.
The NV shareholder meeting will take place in Rotterdam, Netherlands, on October 25 and the PLC shareholder meetings will take place in London on October 26.
London-listed shares in Unilever were up 0.1% at 4,276.00 pence each on Tuesday morning.
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