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Stock Market & Financial Investment News

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May 19, 2014
15:30 EDTULUnilever simplifies PLC share structure with rights repurchase
Unilever announced that it has purchased, for a consideration of GBP715M, the rights left in family trusts by William Hesketh Lever which are convertible in 2038 into about 70.9M Unilever PLC ordinary shares. The consideration is equivalent to GBP10.09 per ordinary share and represents a discount of 63% to the closing share price on Friday May 16. As a result of this transaction core earnings per share will be enhanced by 2% on a full year basis as the fully diluted share count used in the calculation is reduced by 70.875M shares, or 2.4% of the combined Unilever Group total.
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