TIDMDGE
RNS Number : 3973X
Diageo PLC
25 April 2023
DIAGEO PLC ANNOUNCES VOLUNTARY DELISTING FROM EURONEXT PARIS
25 April 2023, London - Today, following its announcement on 13
April 2023, Diageo plc ("Diageo") announces that the delisting of
its shares from Euronext Paris (ISIN:GB0002374006) (the "Paris
Delisting") has been approved by the board of directors of Euronext
Paris. It is currently anticipated that the Paris Delisting will
take effect on 26 May 2023.
The decision by Diageo to delist was taken following a review of
the trading volumes, costs and administrative requirements related
to its listing on Euronext Paris.
The delisting from Euronext Paris will not have any impact on
Diageo's day-to-day operations in France.
Diageo's listings on the London Stock Exchange (DGE) (the "LSE")
and the New York Stock Exchange (DEO) will not be impacted by the
delisting from Euronext Paris.
Following the announcement made on 13 April 2023, Diageo has
also submitted an application for the delisting of its ordinary
shares from Euronext Dublin (the "Dublin Delisting"). Euronext
Dublin has now confirmed that it requires no further information
from Diageo to effect the Dublin Delisting (other than final
confirmation of the date of the Dublin Delisting). It is currently
anticipated that the Dublin Delisting will take effect on or around
30 May 2023, approximately one business day after the Paris
Delisting has taken effect. Diageo will publish a further
announcement when the Dublin Delisting has taken effect.
A voluntary sales facility procedure will be put in place in
accordance with Euronext Paris' rules to allow shareholders to sell
their Diageo shares listed on Euronext Paris and held in the
Euroclear France clearing system (the "Diageo Euronext Paris
Shares"). Diageo has appointed Uptevia to act as centralising agent
in connection with the voluntary sales facility.
Holders of Diageo Euronext Paris Shares have the following
options:
-- not participate in the voluntary sales facility and keep all
of your Diageo Euronext Paris Shares, which will be transferred to
the LSE following the delisting date and which you will be able to
trade on the LSE thereafter, subject to the terms applied by your
financial intermediary and your custody arrangements; or
-- not participate in the voluntary sales facility and sell some
or all of your shares on Euronext Paris using your financial
intermediary in the usual way on or before 25 May 2023 (this being
the final date for the settlement of such trades prior to the
delisting date) and thereafter trade any remaining shares on the
LSE, subject to the terms applied by your financial intermediary
and your custody arrangements; or
-- participate in the voluntary sales facility as described in
more detail below and sell some or all of your Diageo Euronext
Paris Shares on the LSE, in accordance with the rules of Euronext
Paris and the terms and conditions of the voluntary sale facility
and thereafter trade any remaining shares on the LSE, subject to
the terms applied by your financial intermediary and your custody
arrangements.
Voluntary Sales Facility Procedure
Shareholders who wish to sell some or all of their Diageo
Euronext Paris Shares on the LSE through the voluntary sales
facility procedure must request that their financial intermediary
deliver their Diageo Euronext Paris Shares to Uptevia, acting as
centralising agent, from 2 May 2023 to 16 May 2023 (inclusive),
pursuant to the procedure described below.
The Diageo Euronext Paris Shares delivered to Uptevia from 2 May
2023 to 16 May 2023 (inclusive) will be sold by Uptevia on the LSE
beginning on 22 May 2023 by its nominated LSE broker at the market
price prevailing at the time of the sale(s). Uptevia, with the
assistance of its broker, will calculate the average sale price of
Diageo Euronext Paris Shares sold pursuant to the voluntary sales
facility and will transfer the sale proceeds (which will be
converted into Euros from Sterling by Uptevia) to the participating
shareholders' financial intermediaries once Uptevia receives the
funds from its nominated LSE broker.
Diageo will pay the centralisation and brokerage fees and any
applicable foreign exchange commission in connection with the sale
on the LSE of the Diageo Euronext Paris Shares sold pursuant to the
voluntary sales facility.
The voluntary sales facility procedure is also described in the
Euronext notice expected to be published today.
No guarantee can be given by Diageo or by Uptevia as to the
timing or the price at which the Diageo Euronext Paris Shares
tendered pursuant to the voluntary sales facility will be sold on
the LSE.
Holders of Diageo Euronext Paris Shares may decide not to
participate in the voluntary sales facility or may decide not to
take any action, in which case no guarantee can be given to them
regarding the terms, including costs, that may be applied by their
financial intermediary in connection with or after the Paris
Delisting. Holders of Diageo Euronext Paris Shares are urged to
consult their investment adviser before deciding whether to
participate in the voluntary sales facility procedure.
The indicative timetable for the voluntary sales facility and
the Paris Delisting is set out below. All dates are indicative
only, are based on Diageo's current expectations and are subject to
change. If any of the dates in this indicative timetable change,
the revised dates will be announced.
Event Date
Beginning of the voluntary sales facility 2 May 2023
participation window
--------------------------
End of the voluntary sales facility participation 16 May 2023
window
--------------------------
End of centralisation by Uptevia 22 May 2023
--------------------------
Sale on the LSE of the Diageo Euronext From 22 May 2023
Paris Shares tendered pursuant to the
voluntary sales facility
--------------------------
Last day of trading of Diageo Euronext 25 May 2023
Paris Shares on Euronext Paris
--------------------------
Delisting of Diageo Euronext Paris Shares 26 May 2023
from Euronext Paris
--------------------------
Settlement of the average sale proceeds As soon as possible
of the voluntary sales facility to the after receipt by Uptevia
relevant financial intermediaries of the proceeds of
the voluntary sales
facility
--------------------------
Diageo shareholders participating in the voluntary sales
facility acknowledge and accept the risks related to the potential
changes in the Diageo share price and/or applicable foreign
exchange rates between the time when their Diageo Euronext Paris
Shares are delivered to Uptevia for participation in the voluntary
sales facility and the receipt of the applicable sale proceeds.
Any instructions to tender Diageo Euronext Paris Shares to the
voluntary sales facility are irrevocable, as is the subsequent sale
of such Diageo Euronext Paris Shares on the LSE, and such
instructions must be transmitted to the holder's financial
intermediary prior to the deadline provided in the notice that each
Diageo shareholder will receive from its custodian.
Shareholders who would like additional information about the
voluntary sales facility or the delisting of Diageo Euronext Paris
Shares from Euronext Paris should contact their custodian and usual
financial intermediary.
Additional information can also be found in the FAQs published
here:
https://www.diageo.com/en/investors/shareholder-centre/euronext-paris-and-euronext-dublin
Enquiries:
Media relations +44 (0) 7803 856 200
Diageo Global Press Office press@diageo.com
Investor relations Investor.relations@diageo.com
Durga Doraisamy +44 (0) 7803 854842
Andrew Ryan +44 (0) 7803 854842
About Diageo
Diageo is a global leader in beverage alcohol with an
outstanding collection of brands including Johnnie Walker, Crown
Royal, J&B and Buchanan's whiskies, Smirnoff, Cîroc and Ketel
One vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and
Guinness.
Diageo is a global company whose products are sold in more than
180 countries around the world. The company is listed on both the
London Stock Exchange (DGE) and the New York Stock Exchange (DEO).
For more information about Diageo, our people, our brands, and
performance, visit us at www.diageo.com. Visit Diageo's global
responsible drinking resource, www.DRINKiQ.com, for information,
initiatives, and ways to share best practice.
LEI Number: 213800ZVIELEA55JMJ32
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