Thomson Reuters (NYSE: TRI; TSX: TRI - News; LSE: TRIL; NASDAQ: TRIN), the world's leading source of intelligent information for businesses and professionals, today announced that it has obtained UK court approval to unify its dual listed company (DLC) structure.
Thomson Reuters shareholders overwhelmingly approved the unification earlier this month, and there are no additional approvals required for closing.
The last day of trading in Thomson Reuters PLC ordinary shares on the London Stock Exchange and American Depositary Shares (ADSs) on Nasdaq will be on September 9, 2009 and the unification will close on September 10, 2009. Thomson Reuters Corporation common shares will continue to trade on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) under the symbol "TRI".
Type of Shareholder Unification Consideration
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Thomson Reuters PLC ordinary Each ordinary share will be
shareholders exchanged for one Thomson Reuters
Corporation common share.
To facilitate the holding of shares
in tn the e UK through CREST (the UK
electronic settlement system),
Thomson Reuters PLC shareholders
will receive Depository Interests
(DIs). DIs represent entitlements
to common shares and have the same
voting and economic interests as
common shares. However, DIs are
not traded on the TSX or NYSE.
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Thomson Reuters PLC ADS holders Each ADS will be exchanged for six
Thomson Reuters Corporation common
shares.
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Thomson Reuters Corporation common No change to existing shares.
shareholders
Effective September 10, 2009, former Thomson Reuters PLC shareholders who receive DIs will be able to convert their DIs into common shares by contacting Computershare in Canada and the United States by phone at 1.877.624.5999 or by e-mail at globaltransactionteam@computershare.com, and in the United Kingdom and elsewhere outside of Canada/Ucomputershare.com, and in the United Kingdom and elsewhere outside of Canada/United States by phone at 44.870.702.0003, ext. 1075, or by e-mail at allukglobaltransactionteam@computershare.co.uk. Thomson Reuters will pay all applicable conversion fees between September 10, 2009 and December 10, 2009. Additional information about the DIs is available in the "Investor Relations" section of thomsonreuters.com.
Thomson Reuters expects settlement of newly-issued common shares and DIs to occur on or about September 14, 2009.
Holders of Thomson Reuters shares as of August 21, 2009 are entitled to receive a dividend of US$0.28 per share on September 15, 2009. Due to the timing of the closing of the unification, Thomson Reuters PLC shareholders who previously enrolled in the company's dividend reinvestment plan (DRIP) will receive this dividend in cash. Enrollment information for the Thomson Reuters Corporation DRIP is available in the "Investor Relations" section of www.thomsonreuters.com.
A more detailed expected timetable of key dates related to the proposed unification is provided below.
Proposed DLC Unification
Expected Timetable of Key Events as of August 25, 2009
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Deadline for settlement and 1:00 p.m. (EDT) / 6:00 p.m. (BST) on
registration of transfers in Wednesday, September 9, 2009
Thomson Reuters PLC shares for
inclusion in the Scheme of
Arrangement
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Scheme record time 1:00 p.m. (EDT) / 6:00 p.m. (BST) on
Wednesday, September 9, 2009
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Last trading day for Thomson Reuters Wednesday, September 9, 2009
PLC ordinary shares on the London
Stock Exchange and ADSs on Nasdaq
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Effective date of Unification and Thursday, September 10, 2009
the Scheme
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Settlement of newly-issued Thomson Monday, September 14, 2009
Reuters Corporation common shares
and Depository Interests (DIs)
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Payment date for US$0.28 per share Tuesday, September 15, 2009
dividend for holders of Thomson
Reuters shares as of August 21,
2009
The CUSIP and ISIN numbers for Thomson Reuters Corporation common shares and DIs will be identical and are as follows:
CUSIP Number ISIN Number
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Thomson Reuters Corporation 884903 10 5 CA8849031056
Common Shares/DIs