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    • thrifty_pete
    • By thrifty_pete 24th Jul 18, 2:29 PM
    • 233Posts
    • 49Thanks
    Unilever shares: moving headquarters to Rotterdam
    • #1
    • 24th Jul 18, 2:29 PM
    Unilever shares: moving headquarters to Rotterdam 24th Jul 18 at 2:29 PM
    I have shares in Unilever, and I realise these are specialist questions for a general forum but I'll see what the MSE oracle can tell me!
    In September there is a shareholder vote on whether the headquarters should be moved to Rotterdam in the Netherlands. Do I have any chance of voting in that as I hold the shares in a nominee account? Unilever will then not qualify to be in the FTSE 100 but I'm not sure that bothers me as I intent to hold the shares for the long term.
    Are there likely to be any changes to tax? I gather there is a dutch withholding tax, but it is due to be abolished? I have shares in IAG (British Airways) which I didn't realise was headquartered in Madrid (although listed in London) and the dividends have Spanish tax deducted. Frustrating as I'm well under the personal allowance for dividends. Thanks for your help!
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    • Tom99
    • By Tom99 14th Sep 18, 2:55 PM
    • 2,626 Posts
    • 1,793 Thanks
    This is the Halifax notification today, I don't think there will be any opportunity to vote:

    UNILEVER PLC - Important Information

    Scheme of Arrangement

    1 New ordinary share of New Unilever N.V. for each Existing Unilever Plc share held.

    Important Information & Other Key Dates:
    On 11th September 2018, the Boards of both Unilever Plc and Unilever N.V. announced a decision to simplify and modernise the structure of the businesses by combining Unilever Plc and Unilever N.V. into one legal entity. As part of the decision to modernise their structure, the Boards have further concluded that New Unilever N.V. should be incorporated in the Netherlands to reflect the fact that the Groups Dutch company is larger than the UK company.

    The Boards believe that the combination, which is to be effected by way of a Scheme of Arrangement, will create value, drive performance for the long term and position Unilever for future success.

    The Scheme is subject to shareholder approval at Extraordinary General Meetings, to be held on 25th October 2018 for Unilever N.V. shareholders and 26th October 2018 for Unilever Plc shareholders. The Boards recommend that shareholders vote in favour of the proposal.

    The Scheme is also subject to approval at a Court Meeting on 26th October 2018, for Unilever Plc.

    It is not yet known when the Scheme is expected to become effective, but is expected to be completed by the end of 2018. Once effective, the New Unilever shares will trade on the London Stock Exchange, where the Company will seek a premium listing and trade in British Pounds.

    Should you retain your holding of Unilever Plc, we will notify you upon receipt of further information from the company.

    For more information about the Scheme, please visit the Unilever website,
    Last edited by Tom99; 14-09-2018 at 2:57 PM.
    • Apodemus
    • By Apodemus 15th Sep 18, 9:44 AM
    • 1,019 Posts
    • 830 Thanks
    My documents from Unilever arrived yesterday, with the voting forms for the Court and EGM meetings.

    Iím fairly relaxed about the changes and trust the Board to take decisions that are in the long-term interests of the company and the shareholders. Even if I wasnít, Iím not sure that the views of individual small-scale shareholders would ever add up to sufficient voting clout to sway the outcome!
    • thrifty_pete
    • By thrifty_pete 17th Sep 18, 10:34 AM
    • 233 Posts
    • 49 Thanks
    Even if I wasnít, Iím not sure that the views of individual small-scale shareholders would ever add up to sufficient voting clout to sway the outcome!
    Originally posted by Apodemus
    I live in Parliamentary constituency where they only need to weigh the voting papers to see who has won, the incumbent has held the seat for over 30 years. I still vote though.
    For Unilever they need to get a 75% vote so it is not impossible it won't go the way the board want.
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