Liberty Global Announces Distribution of LiLAC Tracking Stock to Shareholders
21 May 2015 - 9:00AM
Business Wire
Liberty Global plc (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and
LBTYK) today announced that it intends to implement its previously
announced tracking stock for its operations in Latin America and
the Caribbean (the “LiLAC Group”) on July 1, 2015 (the
“distribution date”). At the close of trading on the distribution
date, Liberty Global will distribute, as a dividend (or a “bonus
issue” under U.K. law), to holders of its Class A, Class B and
Class C ordinary shares as of 5:00 p.m. Eastern time on June 24,
2015 (the “record date”), one share of the corresponding class of
LiLAC Group ordinary shares for each 20 Liberty Global ordinary
shares held by each shareholder as of the record date. Cash will be
issued in lieu of fractional LiLAC Group ordinary shares.
We intend, prior to the distribution, to attribute $100 million
of cash to the LiLAC Group in order to provide liquidity to fund,
among other things, ongoing operating costs and acquisitions with
respect to the LiLAC Group. We expect the LiLAC Class A (LILA) and
Class C (LILAK) ordinary shares to trade on NASDAQ, and the LiLAC
Class B (LILAB) ordinary shares on the OTC Bulletin Board. The
Liberty Global Class A, Class B and Class C ordinary shares
will continue to trade on NASDAQ under the symbols LBTYA, LBTYB and
LBTYK, respectively.
The creation and distribution of the LiLAC Group ordinary shares
are subject to the satisfaction of the remaining customary
conditions to these transactions, which are described in detail in
the proxy statement/prospectus forming a part of Liberty Global’s
Registration Statement on Form S-4 filed with the Securities and
Exchange Commission regarding these transactions.
Forward-Looking Statements
This press release contains forward-looking statements,
including statements regarding the creation, distribution and
trading of the LiLAC Group ordinary shares, attribution of cash to
the LiLAC Group and other information and statements that are not
historical fact. These forward-looking statements involve certain
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by these statements.
These risks and uncertainties include the satisfaction of certain
conditions to the creation and distribution of the tracking stock,
the continued use by subscribers and potential subscribers of our
services and their willingness to upgrade to our more advanced
offerings, our ability to meet challenges from competition, to
manage rapid technological change or to maintain or increase rates
to our subscribers or to pass through increased costs to our
subscribers, the effects of changes in laws or regulation, general
economic factors, our ability to obtain regulatory approval and
satisfy regulatory conditions associated with acquisitions and
dispositions, our ability to successfully acquire and integrate new
businesses and realize anticipated efficiencies from businesses we
acquire, the availability of attractive programming for our digital
video services and the costs associated with such programming, our
ability to achieve forecasted financial and operating targets, the
outcome of any pending or threatened litigation, our ability to
access cash of our subsidiaries and the impact of our future
financial performance, or market conditions generally, on the
availability, terms and deployment of capital, fluctuations in
currency exchange and interest rates, the ability of vendors and
suppliers to timely deliver quality products, equipment, software
and services, as well as other factors detailed from time to time
in Liberty Global’s filings with the SEC including Liberty Global’s
registration statement on Form S-4 relating to the issuance of the
LiLAC shares and most recent Forms 10-K and 10-Q. These
forward-looking statements speak only as of the date of this
release. We expressly disclaim any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
statement contained herein to reflect any change in the
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based,
except to the extent required by applicable law.
About Liberty Global
Liberty Global is the largest international cable company with
operations in 14 countries. We connect people to the digital world
and enable them to discover and experience its endless
possibilities. Our market-leading products are provided through
next-generation networks and innovative technology platforms that
connected 27 million customers subscribing to 56 million
television, broadband internet and telephony services at March 31,
2015. In addition, we served five million mobile subscribers and
offered WiFi access across over five million access points.
Liberty Global's consumer brands are Virgin Media, Ziggo,
Unitymedia, Telenet, UPC, VTR and Liberty Cablevision. Our
operations also include Liberty Global Business Services and
Liberty Global Ventures. For more information, please visit
www.libertyglobal.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150520006697/en/
Liberty GlobalInvestor
Relations:Oskar Nooij, +1 303 220 4218Christian
Fangmann, +49 221 8462 5151John Rea, +1 303 220 4238orCorporate Communications:Marcus Smith, +44
20 7190 6374Bert Holtkamp, +31 20 778 9800Hanne Wolf, +1 303 220
6678
Liberty Global (NASDAQ:LBTYK)
Historical Stock Chart
From Apr 2024 to May 2024
Liberty Global (NASDAQ:LBTYK)
Historical Stock Chart
From May 2023 to May 2024