THE WHAT? Dutch shareholders have voted in favor of Unilever’s proposed unification of its Group legal structure under a single parent company.
THE DETAILS Some 99.39 percent of voters (with total voters representing 64.1 percent of issued share capital) approved the unification proposal.
Completion of Unification remains subject to the approval of the cross-border merger between Unilever NV and Unilever PLC at the court meeting of Unilever PLC shareholders, the passing of the special resolution at the general meeting of Unilever PLC shareholders and the approval of the cross-border merger by the High Court of Justice in England and Wales, among other conditions.
THE WHY? By simplifying its legal structure, Unilever believes that it will be better positioned for future success and enjoy greater strategic flexibility. If the last six months have done anything, they’ve demonstrated the need for flexibility and shareholders, by their very nature, have a vested interest in the future success of the company.