Linde Shareholders Approve Proposal to Delist from Frankfurt Stock Exchange

Rhea-AI Summary

Linde plc (NYSE:LIN) shareholders approved an intercompany reorganization leading to the delisting of its ordinary shares from the Frankfurt Stock Exchange. Preliminary results show approximately 93% of votes favored the delisting at the Extraordinary General Meeting, with around 78% of total shares participating. The delisting is expected to finalize by March 1, 2023, upon completing regulatory approvals. Following the reorganization, shareholders will receive shares of the new holding company, which will retain the name Linde plc and trade under the existing ticker LIN on the NYSE. A full voting breakdown will be provided in an upcoming Form 8-K.

Positive

• Over 93% of shareholders voted in favor of the delisting proposal.
• The restructuring aims to streamline operations and maintain NYSE listing.

Negative

• Delisting may reduce visibility and trading volume in European markets.

WOKING, UK / ACCESSWIRE / January 18, 2023 / Linde plc (NYSE:LIN)(FWB:LIN) today announced its shareholders have approved the company's proposal for an intercompany reorganization that will result in the delisting of its ordinary shares from the Frankfurt Stock Exchange.

Preliminary voting results indicate that at least approximately 93% of the votes cast on each of the delisting proposals were cast in favor at the Court Meeting and the Extraordinary General Meeting of Shareholders held today. The total number of votes cast represented approximately 78% of total Linde plc shares outstanding. Following the completion of legal and regulatory approvals, Linde anticipates that the intercompany reorganization and delisting process will be completed, and its ordinary shares will be delisted from the Frankfurt Stock Exchange, on or about March 1, 2023.

In connection with the closing of the intercompany reorganization, Linde shareholders will automatically receive one share of the new holding company, to be listed on the New York Stock Exchange in exchange for each share of Linde plc they own. The new holding company will also be named "Linde plc" and will trade under the existing ticker "LIN".

Linde will file a Form 8-K with the US Securities and Exchange Commission that will provide a full breakdown of the final voting results within the next four days.

Person making the notification: Anna Davies, Corporate Spokesperson, Linde plc

Contact:

Anna Davies
Tel: +44 1483 244 705
Email: anna.davies@linde.com

SOURCE: Linde plc

View source version on accesswire.com:
https://www.accesswire.com/735705/Linde-Shareholders-Approve-Proposal-to-Delist-from-Frankfurt-Stock-Exchange

FAQ

What significant action did Linde plc's shareholders approve on January 18, 2023?

Shareholders approved a proposal for intercompany reorganization and delisting from the Frankfurt Stock Exchange.

What percentage of votes were cast in favor of the delisting proposal for Linde plc?

Approximately 93% of the votes cast were in favor of the delisting proposal.

When is Linde plc expected to complete its delisting from the Frankfurt Stock Exchange?

The delisting is anticipated to be completed on or about March 1, 2023.

What will happen to Linde plc shareholders after the intercompany reorganization?

Shareholders will automatically receive one share of the new holding company for each share of Linde plc they own.

Will Linde plc continue to trade under the same ticker after the reorganization?

Yes, the new holding company will continue to trade under the existing ticker 'LIN' on the NYSE.