NEW YORK–(BUSINESS WIRE)–Regulatory Information:
Worldwide Flavors and Fragrances (“IFF”) (NYSE: IFF) (Euronext Paris: IFF) (TASE: IFF) introduced at the moment that following a complete overview of the buying and selling quantity, prices and administrative necessities associated to its itemizing on Euronext Paris, it has determined to request the voluntary delisting of its shares (the “IFF Shares”) (ISIN US4595061015) from Euronext Paris. The Board of Euronext has accredited this request.
Following the delisting from Euronext Paris, the IFF Shares will stay listed on the New York Stock Alternate (the “NYSE”), IFF’s main itemizing exchange.
A voluntary gross sales facility process on the NYSE shall be carried out by IFF for the advantage of its shareholders holding their IFF Shares by means of Euroclear France (the “Euronext Shareholders”), in accordance with Euronext guidelines (the “Sales Facility”). Accordingly, the Euronext Shareholders could have the next choices:
- determine to not take part within the voluntary gross sales facility and preserve their IFF Shares, which they’ll have the ability to commerce on Euronext Paris by means of and together with the buying and selling day previous to the delisting date, and thereafter, solely on the NYSE; or
- take part within the voluntary gross sales facility described under and promote all or a part of their IFF Shares on the NYSE.
Euronext Shareholders not collaborating
Euronext Shareholders who don’t want to promote their IFF Shares pursuant to the Gross sales Facility, or in any other case have taken no motion to tender their IFF Shares within the Gross sales Facility may solely commerce their IFF Shares on the NYSE following the delisting date. Any such holding and/or commerce shall be topic to the phrases utilized by their monetary middleman who will take the mandatory steps to maneuver their IFF Shares from Euroclear France to the related different central system for depositary.
Collaborating Euronext Shareholders
Euronext Shareholders who want to promote their IFF Shares on the NYSE pursuant to the Gross sales Facility should request their monetary intermediaries to ship their IFF Shares from 24th November, 2020 to eighth December, 2020 included, to BNP Paribas Securities Companies, appearing as centralizing agent, pursuant to the process described within the relevant Euronext discover anticipated to be printed on 20th November, 2020.
The IFF Shares delivered to BNP Paribas Securities Companies shall be bought on the NYSE beginning on Monday,14th December 2020, by a dealer, at market costs prevailing on the time of the sale.
BNP Paribas Securities Companies will calculate the common sale price of the IFF Shares and shall be in control of transferring the sale proceeds to the collaborating Euronext Shareholders, calculated on the premise of the common sale price of the IFF Shares and transformed into euros.
IFF pays the charges for the centralization and the brokerage price associated to the sale on the NYSE of the IFF Shares delivered to BNP Paribas Securities Companies and bought pursuant to the Gross sales Facility.
Euronext Shareholders are reminded that they may tender their IFF Shares within the Gross sales Facility on a voluntary foundation.
No assurance could be given by IFF or BNP Paribas Securities Companies as to the price at which the IFF Shares will truly be bought on the NYSE, the precise common sale price or the relevant forex exchange price. This course of is being carried out solely as an choice to Euronext Shareholders and participation will not be necessary. Particular person traders may thus decide to not take part on this course of or may determine to not take any motion during which case no assurance may be given as to the phrases that shall be utilized by their monetary middleman in reference to or after the delisting. Particular person traders are invited to seek the advice of their very own funding advisors earlier than making a choice to take part or not on this course of.
The timetable of the Gross sales Facility and the delisting described above may be summarized as follows (it being specified that IFF reserves the suitable to amend this timetable):
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Gross sales Facility |
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Starting of the Gross sales Facility
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Tuesday 24th November 2020 (Tender interval of 10 buying and selling days) |
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Finish of the Gross sales Facility |
Tuesday 8th December 2020 |
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Finish of the centralization by BNP Paribas Securities Companies |
Friday 11th December 2020 |
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Gross sales on the New York Stock Alternate of the IFF Shares tendered within the Gross sales Facility |
Beginning on Monday 14th December 2020 |
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Proceeds of sale in USD transformed into Euros |
Upon receipt of the funds by the bank |
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Proceeds of sale distributed to the beneficiaries (i.e., holders of IFF Shares having participated within the Gross sales Facility) |
Upon receipt of the funds by the bank |
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Delisting |
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Final day of buying and selling of IFF Shares on Euronext Paris |
Thursday 17th December 2020 |
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Delisting of IFF Shares from Euronext Paris |
Friday 18th December 2020 |
Euronext Shareholders collaborating within the Gross sales Facility acknowledge and comply with assume the dangers related to modifications out there price of IFF Shares and forex exchange charges that may happen between the time IFF Shares are delivered to BNP Paribas Securities Companies and the sale of such IFF Shares on the NYSE in addition to the date of conversion of the price into euros. All tender instruction of IFF Shares below the Gross sales Facility are irrevocable.
IFF Shares shall be delisted from Euronext Paris on 18th December, 2020. IFF Shares will proceed to be listed on the NYSE below the image “IFF”.
Shareholders are invited to contact their monetary intermediaries for any extra data.
Welcome to IFF
At IFF (NYSE:IFF) (Euronext Paris: IFF) (TASE: IFF), we’re utilizing Unusual Sense to create what the world wants. As a collective of unconventional thinkers and creators, we put science and artistry to work to create distinctive and surprising scents, tastes, experiences and substances for the merchandise our world craves. Be taught extra at iff.com, Twitter , Fb, Instagram, and LinkedIn.
Vital Data
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