BASINGSTOKE, England and PHILADELPHIA, Pennsylvania, April 15 /PRNewswire-FirstCall/ -- THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS AND INVESTORS SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY SECURITIES REFERRED TO IN THIS ANNOUNCEMENT EXCEPT ON THE BASIS OF INFORMATION TO BE CONTAINED IN THE PROSPECTUS EXPECTED TO BE PUBLISHED BY SHIRE LIMITED IN CONNECTION WITH THE PROPOSED SCHEME. THE PROSPECTUS WILL BE PUBLISHED AND MADE AVAILABLE ON SHIRE'S WEBSITE AND WILL BE AVAILABLE FOR INSPECTION AT THE UK LISTING AUTHORITY'S DOCUMENT VIEWING FACILITY
Shire plc ("Shire") (LSE: SHP, NASDAQ: SHPGY) announces a proposed Court sanctioned scheme of arrangement relating to the corporate structure and organisation of Shire, including the creation of a new UK listed, Jersey incorporated holding company for the group (the "Proposals").
The Proposals will not result in any changes in the day to day conduct of Shire's business, its strategy or dividend policy. The new holding company will have its primary listing on the London Stock Exchange ("LSE") and its American Depositary Shares ("ADS") will be traded on NASDAQ. It is not planned that the Proposals will result in any job losses or relocation of existing Shire personnel out of the UK.
Through a series of transactions over the last ten years, the Shire group's business has been transformed, from a primarily UK business to an international business, with the vast majority of its revenues generated from outside the UK. Shire has concluded that its business and its shareholders would be better served by having an international holding company with a group structure that is designed to help protect the group's taxation position, and better facilitate the group's financial management. The Directors believe that the most appropriate structure is for the new group parent company to be tax-resident in the Republic of Ireland.
The new holding company, which is to be called Shire Limited, will ha
|SOURCE Shire PLC|
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