Unilever shareholders to hold crunch vote on Netherlands move
Unilever shareholders will vote next month on plans to streamline the consumer goods giant and move its headquarters to Rotterdam over London.
The company, which makes Marmite and Pot Noodle, has revealed details of its proposal to abandon its dual-headed structure and become one legal entity in the Netherlands.
The Anglo-Dutch firm, which also produces Dove soap, Lipton teas and Ben & Jerry's ice cream, said it would become one holding company, based in the Netherlands and listed in Amsterdam, London and New York.
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But the move hinges on a crunch vote by shareholders on 25 and 26 October – with 75 per cent of UK shareholders and 50 per cent of Dutch shareholders needing to vote with the proposal for it to be passed.
The current NV and PLC parent companies would be simplified and become New Unilever NV, the company said in shareholder documentation released today.
One ordinary share will be issued for each NV ordinary share and for each PLC share, if it becomes on single holding company.
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The final day of trading in NV and PLC shared would be 21 December and dealings in New Unilever NV would begin on 24 December.
In July a number of large UK shareholders expressed concerns over the move and uncertainty over whether it would be passed in a vote.