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Prices & Quotes - UK Markets - Unilever (ULVR)

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Share Price:
Up 4,340.00p
Change Today:
45.00p
Market Cap:
113,558m
Sector:
Food Producers

Unilever's Dutch shareholders back proposed unification

By Abigail Townsend

Date: Monday 21 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Unilever's Dutch shareholders have voted to end the company's historic dual-structure in favour of a single entity based in London.
The motion was passed at a virtual extraordinary shareholder meeting in with 99.39% of vote. If British shareholders also back the proposal at the UK's virtual EGM on 12 October, the business will press ahead with unification, which is currently scheduled for 22 November.

The dual-structure was created 90 years ago when Lever Brothers merged with Holland's Margarine Unie. However, Unilever - which owns Dove, Surf, Hellman's and Ben & Jerry's, among a raft of other brands - believes the structure is outdated and too complex, and that simplifying it will give it more flexibility, especially regarding equity-based acquisitions and disposals mergers.

"Unification will put us on a level playing field with other companies and ensure that we are best positioned for future success," said chief financial officer Graeme Pitkethly.

The unification will be achieved via a cross-border merger, where all of the assets, liabilities and legal relationships of Unilever NV will be acquired by Unilever PLC. The Dutch company will then cease to exist, with the UK entity issuing shares to former NV stockholders on a 1:1 basis.

In a note, Barclays said: "The benefits [of unification] include increasing [Unilever's] strategic flexibility for bolder portfolio change, modernising its 90-year-old legal structure and strengthening corporate governance."

As at 1345 BST, Unilever's London-listed shares were down 2% at 4,648.3p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Unilever Market Data

Currency UK Pounds
Price 4,340.00p
Change Today 45.00p
52 Week High 4,892.00p
52 Week Low 3,733.00p
Volume 698,782
Shares Issued 2,616.56m
Market Cap 113,558m

Performance Indicators

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What The Brokers Say

Strong Buy 14
Buy 0
Neutral 5
Sell 1
Strong Sell 5
Total 25
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Unilever Dividends

  Latest Previous
  Q1 Q4
Ex-Div 20-May-21 25-Feb-21
Paid 10-Jun-21 17-Mar-21
Amount 37.10p 37.60p

Trades for 15-Jun-2021

Time Volume / Share Price
10:12 20 @ 4,340.00p
10:12 32 @ 4,340.00p
10:12 86 @ 4,340.00p
10:12 8 @ 4,340.00p
10:12 14 @ 4,340.00p

Unilever Key Personnel

Chair Nils Smedegaard Andersen
CFO Graeme Pitkethly
CEO Alan Jope