Information and news company Thomson Reuters announced Monday it plans to unify its dual listed company structure, listing shares only on the New York Stock Exchange and Toronto Stock Exchange.
If approved by all shareholders, shares will no longer be listed on the London Stock Exchange and Nasdaq, the company said in a released statement today.
The move will “consolidate and improve the trading of the company’s shares and simplify its capital structure,” The company said in a released statement.
“The shareholders of Thomson Reuters have changed considerably, and U.K. shareholders now only constitute 5 percent of the combined shareholder base,” said Thomas Glocer, the chief executive of Thomson Reuters.
Thomson Reuters Plc shareholders will receive one share in Thomson Reuters Corp. for every share of Thomson Plc share held.
Holders of Thomson Reuters Plc American Depositary shares will receive six Thomson Reuters Corp. common shares for each ADS held.
The company said the move would not affect the company’s operations or strategy