Liberty Global shareholders have voted overwhelmingly for our proposal to change our place of incorporation to Bermuda from England and Wales.
The percentage of votes in favor ranged from 88% – 95% across each of our three classes of stock.
The move aims to create long-term shareholder value by giving us more flexibility to facilitate investments, enhance efficiency in M&A, spinoffs and other strategies, and simplify share buybacks.
Key points
Bermuda's U.S-style governance is more aligned with the expectations of our largely U.S shareholder base.
Redomicile will make it easier for companies with multiple classes of stock like ours to undertake a range of transactions.
The move will lower the voting threshold from 75% to a simple majority, reducing the risk that a small group of shareholders can block key motions.
Redomicile is not being pursued for tax purposes.
There will be no impact on the day-to-day running of the company.
We remain committed to our UK and European customers, employees and businesses.
“The principal reason for the proposal is to enable future shareholder value creation by moving into a jurisdiction that makes it substantially easier to facilitate share buy-backs and self-tender offers, spin offs and split offs and other similar transactions.”
Shareholders who held shares as of July 3rd were able to submit their votes.
July 13: Court Meetings
Three separate Court meetings were held for Class A, Class B and Class C Ordinary shares holders respectively.
July 13: General Meeting
A General Meeting was held to approve ancillary corporate actions required to properly implement the Scheme. Holders of Class A and Class B Ordinary shares were entitled to vote at this meeting.
July 13: Shareholders’ Meeting
A Shareholders’ Meeting was held due to applicable rules and regulations of the SEC, which required LG to ask its Shareholders to vote, on a non-binding, advisory basis, on the Advisory Resolutions.
Aug – Nov: Court approval
Two separate court hearings to approve the Scheme will be held in August and November.
Redomiciliation of Liberty Global PLC from United Kingdom to Bermuda
You wish to access a website dedicated to documents and information relating the proposed redomiciliation of Liberty Global plc from the United Kingdom to Bermuda (the “Redomiciliation”).
To allow you to view information on this part of this website, you must read this notice and then click “I CONFIRM”. If you are unable to agree you must click “I DO NOT CONFIRM”.
Forward-Looking Statements
This website contains certain statements which are, or may be deemed to be, “forward-looking statements” with respect to the business of Liberty Global and certain plans and objectives of Liberty Global with respect to the Redomiciliation. Forward-looking statements are statements of future expectations that are based on current expectations, assumptions and projections about future events, and are, therefore, are qualified in their entirety by, and subject to, risks and uncertainties which could cause actual results, performance or events to differ materially from those expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of forward-looking words such as “plans”, “expects”, “is expected”, “is subject to”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “targets”, “aims”, “projects” or words or terms of similar substance or the negative thereof, as well as variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved.
Although Liberty Global believes that the expectations reflected in such forward-looking statements are reasonable, we cannot give assurance that such expectations will prove to be correct. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, the matters set forth under “Forward Looking Statements” in Part I, Item 1 of Liberty Global’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and in Part I, Item 2 of Liberty Global’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2023. Other factors that could cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements include our ability to obtain the approval of Liberty Global shareholders for the Redomiciliation and the resolutions proposed at related meetings of our shareholders, our ability to satisfy the other conditions to the Redomiciliation on the expected timeframe, or at all, our ability to realize the expected benefits from the Redomiciliation and the occurrence of unanticipated difficulties or costs in connection with the Redomiciliation.
All of our forward-looking statements speak only as of the date they were made, and we undertake no obligation to update our forward-looking statements or risk factors to reflect new information, future events or otherwise, except as may be required under applicable securities laws and regulations. Accordingly, you should not place undue reliance on any such forward-looking statements.
To access this page of our website which is dedicated to the distribution of documents and information relating to the Redomiciliation, you must confirm that the following statements are accurate:
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