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SharePrice.com - UK Share Information - Wednesday, 19th September 2018

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Shareholders Threatening to Vote Against Unilever Change


Sunday, 16th September 2018

Nick Train, the joint founder of Lindsell Train, who is the third largest shareholder, says that the move would result in the forced sale of shares in Unilver, and could expose UK shareholders to the risk of tax from the Netherlands. The investor says that Unilever should offer existing shareholders a perpetuity guarantee to protect it from future changes to Dutch tax policies.

Unilever laid out its plans for a new structure, and gave a December date for the move from London to Rotterdam. Russell Group has confirmed that if the move happens it would mean that Unilever would no longer be eligible for a listing in the FTSE 100. The company is in a strong position, and is one of the biggest in the FTSE 100 right now, but if it leaves then a large number of shareholders, in particular those that are tracker fund managers, would be forced to sell their shares, which would depress the value of the company’s shares for other non-tracker groups. Some shareholders have expressed frustration that they would have qualified for a takeover premium if the change had occurred because of an external takeover, rather than the current situation where the company itself is wishing to restructure. Unilever needs the approval of existing shareholders to do this, and expects to push the move through, in spite of some shareholders now planning to vote against it.


Read previous editors articles here


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