Lilly Announces Voluntary Delisting from Euronext Paris
INDIANAPOLIS, Oct. 3, 2019 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) announced today that it has requested the delisting of its shares (ISIN US5324571083) ("Lilly Shares") from Euronext Paris due to the very low trading volume, costs and administrative requirements related to its secondary listing on Euronext Paris. The Board of Directors of Euronext Paris S.A. has approved this request.
Following the delisting from Euronext Paris, Lilly Shares will remain listed on the New York Stock Exchange (NYSE), Lilly's primary listing exchange.
A voluntary sales facility procedure on the NYSE will be provided by Lilly to its shareholders holding their Lilly Shares under Euroclear France ("Euronext Shareholders") during which such Euronext Shareholders will have the following options:
Euronext Shareholders Not Participating
Participating Euronext Shareholders
The Lilly Shares delivered to BNP Paribas Securities Services will be sold on the NYSE beginning on October 23, 2019 by a broker, at market prices prevailing at the time of the sale.
BNP Paribas Securities Services will calculate the average sale price of the Lilly Shares and will be in charge of transferring the sale proceeds to the participating Euronext Shareholders.
Lilly will pay the fees for the centralization and the brokerage fee related to the sale on the NYSE of the Lilly Shares delivered to BNP Paribas Securities Services as part of the sales facility.
Euronext Shareholders are reminded that they may tender their Lilly Shares in the sales facility on a voluntary basis.
No guarantee can be given by Lilly or by BNP Paribas Securities Services as to the price at which the Lilly Shares will actually be sold on the NYSE. This process is being provided solely as an accommodation to Euronext Shareholders. Individual investors may determine not to participate in this process or may decide not to take any action in which case no guarantee can be given on the terms applied by their financial intermediary after the delisting. Individual investors are urged to consult their own investment advisors before making a decision to participate or not in this process.
The calendar of the sales facility and the delisting described above can be summarized as follows (it being specified that Lilly reserves the right to amend this calendar):
Euronext Shareholders participating in the sales facility procedure (i) acknowledge and agree to
assume the risks associated with changes in the market price of Lilly Shares and currency exchange rates that may occur between the time Lilly Shares are delivered to BNP Paribas Securities Services and the sale of such Lilly Shares on the NYSE, and (ii) acknowledge and accept that from the time their Lilly Shares are delivered to BNP Paribas Securities Services, they will not be entitled to any subsequent dividend declared by the board of directors of Lilly. All tender instruction of Lilly Shares under the sales facility are irrevocable.
Lilly Shares will be delisted from Euronext Paris on October 31, 2019.
Lilly Shares will continue to be listed on the NYSE under the symbol "LLY".
Shareholders are invited to contact their financial intermediaries for any additional information.
About Eli Lilly and Company
View original content to download multimedia:http://www.prnewswire.com/news-releases/lilly-announces-voluntary-delisting-from-euronext-paris-300930595.html
SOURCE Eli Lilly and Company
Company Codes: NYSE:LLY