Thomson Reuters, a leading source of intelligent information for businesses and professionals, has announced plans to unify its dual listed company (DLC) structure. Under the initiative, the company plans to withdraw shares from the London Stock Exchange.
The Thomson Reuters Board of Directors has unanimously determined that unifying the company's capital structure is in the best interests of all shareholders, as it will consolidate and improve the trading of the company's shares and simplify its capital structure. The proposed unification requires the approval of shareholders of both Thomson Reuters Corporation and Thomson Reuters PLC, voting separately, as well as the UK court approval. The Board recommends that all shareholders vote in favour of unification at shareholder meetings scheduled for August 7, 2009.
If unification is approved, Thomson Reuters will remain listed on the Toronto Stock Exchange and New York Stock Exchange and will no longer be listed on the London Stock Exchange and Nasdaq.
Chief Executive Thomas Glocer has played down concerns that Thomson Reuters could lose any UK-based shareholders through the action. Further, he noted that only 5 percent of all shareholders are in the UK, and expressed hope that those shareholders would retain their holdings after the delisting.
