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Unilever Completes Unification Of Legal Structure

Unilever has announced that it has unified its group legal structure under a single parent company, Unilever PLC.

Starting today, the company will trade with one market capitalisation, one class of shares, and one global pool of liquidity, while maintaining its listings on the Amsterdam, London, and New York stock exchanges, the company added.

Dealings in new Unilever PLC shares will commence today (30 November) on the London Stock Exchange, Euronext Amsterdam and the New York Stock Exchange.

'An Important Day'

Chairman of Unilever, Nils Andersen, commented, "This is an important day for Unilever and we would like to thank our shareholders for their strong support of our unification [proposals... It] gives us greater flexibility for strategic portfolio change, remove complexity and further improve governance."

The unification will have no impact on the operations, locations, activities, or staffing levels in the Netherlands or the United Kingdom.

However, Unilever NV ceased to exist yesterday, 29 November 2020, as part of the unification process.

Trading Details

New Unilever PLC shares have been admitted to the Premium Listing segment of the Official List of the UK Financial Conduct Authority ("FCA") and trading on the London Stock Exchange's Main Market for listed securities with the ticker 'ULVR.'

Amsterdam's Euronext has also admitted Unilever PLC shares for listing and trading under the ticker 'UNA.'

Unilever PLC ADSs will be admitted to trading on the New York Stock Exchange this afternoon, the company added.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

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