Thomson Reuters Launches Return of US$2.2 Billion to Shareholders
US$2.2 billion return of capital and share consolidation expected to be completed in June
As previously disclosed in
Any funds retained by the company from the above noted proceeds and as a result of eligible opt-out shareholders opting out of the return of capital transaction will be retained to pursue organic and inorganic opportunities in key growth segments, as well as other general corporate purposes.
Shareholders will be asked to approve the distribution of
Return of Capital Transaction - Using Illustrative Share Consolidation Ratio
The proposed transaction is intended to distribute cash on a basis that is generally expected to be tax-free for Canadian tax purposes. Taxable non-Canadian resident shareholders (which include taxable
The proposed transaction requires approval by at least two-thirds of the votes cast at the shareholder meeting. The board of directors of the company is unanimously recommending that shareholders vote in favor.
Full details of the proposed transaction will be described in the company's management proxy circular and other related materials. Those documents are expected to be mailed to shareholders, filed with applicable Canadian securities regulatory authorities and made available without charge on SEDAR at www.sedar.com and made available without charge on EDGAR at www.sec.gov, and posted on the company's website at www.thomsonreuters.com, on or about
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SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking, including statements relating to the timing for the approval and implementation of the return of capital transaction; the anticipated tax treatment for shareholders participating in the transaction and those opting out; and the expected use of proceeds of the dispositions of LSEG shares; These forward-looking statements are based on certain assumptions and reflect our company's current expectations. As a result, forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including other factors discussed in materials that Thomson Reuters from time to time files with, or furnishes to, the Canadian securities regulatory authorities and the
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SOURCE Thomson Reuters