Statement from the Board of Unilever


Alternativ











London, UK - 05 October 2018
The Unilever Board has today decided to withdraw its proposal to simplify Unilever’s dual-headed legal structure.

In developing the proposal, the Board was guided by the opportunity to unlock value for our shareholders by creating a stronger, simpler and more competitive Unilever that is better positioned for long-term success.

We have had an extensive period of engagement with shareholders and have received widespread support for the principle behind simplification. However, we recognise that the proposal has not received support from a significant group of shareholders and therefore consider it appropriate to withdraw.

Marijn Dekkers, Chairman, said: “Unilever has built a long track record of consistent and competitive performance. The Board continues to believe that simplifying our dual-headed structure would, over time, provide opportunities to further accelerate value creation and serve the best long-term interests of Unilever.

The Board will now consider its next steps and will continue to engage with our shareholders. We will proceed with the plan to cancel the NV preference shares, further strengthening our corporate governance.

Unilever PLC
Unilever PLC refers to the Notice of PLC Court Meeting and Notice of PLC Extraordinary General Meeting each dated 11 September 2018 in connection with simplification. Following the Board’s decision to withdraw the simplification proposal, the Board will adjourn these shareholder meetings indefinitely.

Accordingly, the PLC Court Meeting and the PLC Extraordinary General Meeting convened for 11.00 a.m. and 11.10 a.m. (BST) respectively on 26 October 2018 will be held solely for the purpose of adjournment, and shareholders are therefore advised not to attend as no other business will be conducted at these meetings.

Unilever N.V.
Unilever N.V. refers to the Notice of Extraordinary General Meeting for Unilever N.V. dated 11 September 2018 in connection with simplification and the shareholder meeting to be held at 11.30 a.m. (CET) on 25 October 2018. Following the Board’s decision to withdraw the simplification proposal, it has decided that it will cancel this shareholder meeting and therefore shareholders should not attend.

In addition, the board of the Unilever N.V. Trust Office has decided to cancel the meeting of depositary receipt holders to be held at 10.30 a.m. (CET) on 25 October 2018.

Shareholders should take no further action in relation to voting or forms of proxy in relation to any of these meetings.

Bondholders
No changes will be made to the existing structure of our debt securities and more specifically, the contingent proposals to hive up our European Debt Issuance Programme, passed by our bondholders in June, will not be implemented.


Unilever PLC
Unilever House
100 Victoria Embankment
London EC4Y 0DY
United Kingdom

Unilever NV
Weena 455
3013AL Rotterdam
http://www.unilever.nl

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