Philip Morris International Inc. Announces Voluntary Delisting from Euronext Paris
16 January 2018 - 6:01PM
Business Wire
Regulatory News:
Philip Morris International Inc. ("PMI") (NYSE: PM) (Euronext
Paris: PM) announced today that following a comprehensive
review of the trading volume, costs and administrative requirements
related to its listing on Euronext Paris, it has decided to request
the voluntary delisting of its shares (ISIN US7181721090) from
Euronext Paris. This request has been approved by the Board of
Directors of Euronext Paris SA.
The delisting procedure will allow the PMI shares listed on
Euronext Paris to be traded on the New York Stock Exchange
("NYSE"), PMI’s primary listing exchange.
Holders of PMI shares listed on Euronext Paris will have the
following options:
- Participate in the sales facility
described below in order to effect the sale of all or part of their
PMI shares on the NYSE.
- Decide to not participate in the sales
facility and keep their PMI shares, which they will be able to
trade on Euronext Paris through the delisting date and on the NYSE
thereafter.
PMI's shareholders who wish to participate in the sales
facility should ask their financial intermediary to deliver
their PMI shares from January 17, 2018 to February 14, 2018
inclusive to CACEIS Corporate Trust acting as centralizing agent
appointed by PMI, following the procedure described below. The PMI
shares tendered to CACEIS Corporate Trust will be sold beginning
February 19, 2018 on the NYSE at the market price at the time of
the sale. CACEIS Corporate Trust will calculate the average sale
price of the PMI shares and will transfer the sale proceeds to the
PMI selling shareholders once it receives the funds. PMI will pay
the fees for the centralization. The brokerage fee related to the
sale on the NYSE of the PMI shares tendered to CACEIS Corporate
Trust as part of the sales facility will be borne by PMI.
PMI's shareholders are reminded that they may tender their
shares in this sales facility on a voluntary basis.
The calendar for the sales facility and the delisting of PMI
described above can be summarized as follows (it being specified
that the PMI reserves the right to amend this calendar):
Event
Date
Sales facility Beginning of the sales facility
January 17, 2018 End of the sales facility
February 14, 2018 End of the centralization by CACEIS
Corporate Trust February 15, 2018 (before 4
p.m. Paris time) Sale on the NYSE of the PMI shares tendered in the
sales facility Beginning February 19, 2018
Settlement of the proceeds of the sale to the relevant financial
institutions As soon as possible after receipt
of the proceeds of the sale
Delisting Last day of trading of
PMI shares on Euronext Paris February 21, 2018
Delisting of PMI shares on Euronext Paris
February 22, 2018 Removal of PMI shares from the operations of
Euroclear France March 1, 2018
PMI's shareholders participating in the sales facility are
reminded that they acknowledge and accept the risk implied from the
change in the PMI share market price or applicable currency
exchange rates between the end of the sales facility and the sale
of the PMI shares on the NYSE. The tenders orders are
irrevocable.
PMI's shareholders not participating in the sales
facility may continue to trade their PMI shares on Euronext
Paris through the delisting date under the terms and conditions of
their custodian. Upon the delisting of the PMI shares from Euronext
Paris, the transfer of the PMI shares from Euronext Paris to the
NYSE will be done by the custodians, and therefore shareholders who
have chosen not to sell their shares through the sales facility, or
otherwise have taken no action, need to take no action for their
PMI shares to be transferred from Euronext Paris to the NYSE.
The PMI shares will remain listed on Euronext Paris until
February 21, 2018 inclusive. Thereafter, shareholders who have
chosen not to sell their PMI shares through the sales facility or
otherwise have taken no action will be able to trade them on the
NYSE under the terms and conditions of their financial
intermediary.
The PMI shares will be removed from the operations of Euroclear
France on March 1, 2018.
PMI will continue to be listed on the NYSE under the symbol
"PM."
Shareholders who would like additional information about the
sales facility or the delisting procedure may contact PMI’s
centralizing agent, CACEIS Corporate Trust (contact Service OST
centralisées, e-mail: ct-service-ost@caceis.com).
Shareholders may also request any additional information from
their custodian and usual financial intermediary, who have received
the details of the delisting.
Philip Morris International: Who We Are
We are a leading international tobacco company engaged in the
manufacture and sale of cigarettes and other nicotine-containing
products in markets outside the United States of America. We’re
building our future on smoke-free products that are a much better
choice than continuing to smoke cigarettes. Through
multidisciplinary capabilities in product development,
state-of-the-art facilities and scientific substantiation, we aim
to ensure that our smoke-free products meet adult consumer
preferences and rigorous regulatory requirements. Our vision is
that these products ultimately replace cigarettes to the benefit of
adult smokers, society, our company and our shareholders. For more
information, see www.pmi.com and www.pmiscience.com.
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Contact Investor Relations:New York: +1 (917) 663-2233Lausanne:
+41 (0)58 242 4666www.pmi.com/investor-relations/overview
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