Sep 11, 2018
Unilever unveils plans for simplified structure
Unilever has detailed its plans to scrap its dual-listed structure, setting up a crucial shareholder vote next month that will determine whether the consumer goods giant will move its headquarters to the Netherlands. If the proposal does pass, shares in the new Unilever will begin trading on December 24, the company said in its newly issued prospectus. If approved by shareholders on October 25 and 26, Unilever will become one holding company incorporated in the Netherlands, with shares listed in Amsterdam, London and New York. One ordinary share in the new Unilever will be issued for each NV ordinary share and for each PLC share, according to the prospectus. Unilever could face a tough battle to convince some UK investors, who are concerned that they will be forced to sell their shares since the new ones are not likely to be included in the FTSE index.
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