By: ICN Bureau
Last updated : February 24, 2023 12:09 pm
The intercompany reorganization is expected to close on March 1,
Linde has announced that the Irish High Court hearings regarding its intercompany reorganization are scheduled for February 27, 2023. Once the reorganization is approved by the Irish High Court, Linde expects its last trading day on the Frankfurt Stock Exchange to be February 28, 2023.
The intercompany reorganization is expected to close on March 1, following which Linde shareholders will automatically receive one share of the new holding company in exchange for each share they own immediately prior to the closing.
The exchange of shares held through the Depository Trust Company (DTC) will be executed through DTC; therefore, Linde shareholders are not required to take any action to exchange their shares. Linde shareholders will be able to continue trading their current Linde shares on the New York Stock Exchange through March 1.
The new holding company, also named “Linde plc”, will be listed solely on the New York Stock Exchange and as of March 2, 2023 will trade under the existing ticker “LIN”. The shares will have a new ISIN (IE000S9YS762) and a new CUSIP (G54950 103). The sole purpose of the reorganization is to reduce the number of stock exchanges where the Linde stock is listed.
Following the reorganization, Linde proposes to apply to the Irish High Court for a capital reduction for the purposes of creating distributable reserves under Irish law. The date of that court hearing shall be published on Linde’s website once known.