Perrigo Announces Voluntary Delisting from the Tel Aviv Stock Exchange (TASE)
Perrigo Company plc (NYSE; TASE: PRGO) announced its voluntary delisting from the Tel Aviv Stock Exchange (TASE) on November 22, 2021, following the divestiture of its Israeli-based operations. The delisting is expected to take effect three months post-request, with shares transitioning to the New York Stock Exchange (NYSE). CEO Murray S. Kessler highlighted this decision as part of Perrigo's significant transformation over the past three years. The company remains committed to its self-care strategy, being a major player in over-the-counter health products.
- Perrigo's ordinary shares will continue trading on the NYSE, ensuring liquidity for investors.
- The company has undergone significant transformation, positioning itself for future growth.
- Divestiture of Israeli operations may lead to reduced market presence in that region.
DUBLIN, Nov. 22, 2021 /PRNewswire/ -- Perrigo Company plc (NYSE; TASE: PRGO), a leading provider of Consumer Self-Care Products, today announced that it is taking steps to voluntarily delist the Company's ordinary shares from trading on the Tel Aviv Stock Exchange (TASE). Perrigo is delisting its shares from the TASE after divesting its Israeli-based operations earlier this year. As such, Perrigo has requested that the TASE immediately initiate the process to delist the Company's ordinary shares.
Under Israeli law, the delisting of Perrigo's ordinary shares from the TASE is expected to become effective three months after the date of the Company's request to the TASE to delist the Company's ordinary shares, which occurred on November 22, 2021. Perrigo ordinary shares will continue to be listed on the New York Stock Exchange (NYSE), and all of its ordinary shares now traded on the TASE are expected to be transferred to the NYSE where they can continue to be traded.
Perrigo CEO and President Murray S. Kessler commented, "Perrigo has undergone a significant transformation over the past three years. Part of this transformation included the divestiture of our Israeli-based assets earlier this year and we believe now is the appropriate time to delist."
About Perrigo
Perrigo Company plc (NYSE; TASE: PRGO) is a leading provider of Quality, Affordable Self-Care Products and over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. Led by its consumer self-care strategy, Perrigo is the largest store brand OTC player in the U.S. in the categories in which it competes through more than 9,000 SKUs under customer 'own brand' labels. Additionally, Perrigo is a Top 10 OTC company by revenue in Europe, where it markets more than 200 branded OTC products throughout 28 countries. Visit Perrigo online at www.perrigo.com.
Perrigo Forward-Looking Statements
Certain statements in this press release are "forward-looking statements." These statements relate to future events or the Company's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "forecast," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or the negative of those terms or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control, including: the effect of the novel coronavirus (COVID-19) pandemic and the associated supply chain impacts on the Company's business; general economic, credit, and market conditions; future impairment charges; customer acceptance of new products; competition from other industry participants, some of whom have greater marketing resources or larger market shares in certain product categories than the Company does; pricing pressures from customers and consumers; resolution of uncertain tax positions, including the Company's appeal of the draft and final Notices of Proposed Assessment ("NOPAs") issued by the U.S. Internal Revenue Service and the impact that an adverse result in any such proceedings would have on operating results, cash flows, and liquidity; pending and potential third-party claims and litigation, including litigation relating to the Company's restatement of previously-filed financial information and litigation relating to uncertain tax positions, including the NOPAs; potential impacts of ongoing or future government investigations and regulatory initiatives; potential costs and reputational impact of product recalls or sales halts; the impact of tax reform legislation and healthcare policy; the timing, amount and cost of any share repurchases; fluctuations in currency exchange rates and interest rates; the Company's ability to achieve the benefits expected from the sale of its Rx business and the risk that potential costs or liabilities incurred or retained in connection with the transaction may exceed the Company's estimates or adversely affect the Company's business or operations; the consummation and success of the proposed acquisition of HRA and the ability to achieve the expected benefits thereof, including the risk that the parties fail to obtain the required regulatory approvals or to fulfill the other conditions to closing on the expected timeframe or at all, the occurrence of any other event, change or circumstance that could delay the transaction or result in the termination of the securities sale agreement or the risks that the Company's synergy estimates are inaccurate or that the Company faces higher than anticipated integration or other costs in connection with the proposed acquisition; the consummation and success of other announced acquisitions or dispositions, and the Company's ability to realize the desired benefits thereof; and the Company's ability to execute and achieve the desired benefits of announced cost-reduction efforts and strategic and other initiatives. An adverse result with respect to the Company's appeal of any material outstanding tax assessments or pending litigation, including securities or drug pricing matters, could ultimately require the use of corporate assets to pay such assessments, damages from third-party claims, and related interest and/or penalties, and any such use of corporate assets would limit the assets available for other corporate purposes. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2020, as well as the Company's subsequent filings with the United States Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Perrigo Company plc
FAQ
Why is Perrigo delisting its shares from the Tel Aviv Stock Exchange (TASE)?
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