CHICAGO, July 31, 2017 /PRNewswire/ --
AbbVie Inc. (NYSE: ABBV) (Paris: ABBV) announced today that following a comprehensive review of the trading volume, costs and administrative requirements related to its listing on Euronext Paris, AbbVie has decided to ask for the delisting of its shares (ISIN US00287Y1091) from Euronext Paris. This request has been approved by the Board of Directors of Euronext Paris SA.
The delisting procedure will allow the AbbVie shares listed on Euronext Paris to be sold on the New York Stock Exchange ("NYSE"), AbbVie's primary listing exchange. Shareholders wishing to sell their shares on the NYSE should ask their financial intermediary to deliver their AbbVie shares from August 2, 2017 to August 16, 2017 inclusive to BNP Paribas Securities Services acting as centralizing agent appointed by AbbVie, following the procedure described in an Euronext notice dated July 31, 2017. The AbbVie shares tendered to BNP Paribas Securities Services will be sold beginning August 21, 2017 on the NYSE at the market price at the time of the sale. BNP Paribas Securities Services will calculate the average sale price of the AbbVie shares and will transfer the sale proceeds to the AbbVie selling shareholders once it receives the funds. AbbVie will pay the fees for the centralization and the selling the AbbVie shares on the NYSE. The brokerage fee related to the sale of the AbbVie shares on the NYSE will be borne by AbbVie.
AbbVie's shareholders are reminded that they may tender their shares in the above described sales facility on a voluntary basis. AbbVie's shareholders not tendering their shares to the sales facility may sell all or part of their shares, or keep them, under the terms and conditions applicable by their custodian.
The calendar for the sales facility and the delisting of AbbVie described above can be summarized as follows (it being specified that the AbbVie reserves the right to amend this calendar):
Event Date Sales facility Beginning of the sales facility August 2, 2017 End of the sales facility August 16, 2017 August 21, 2017 End of the centralization by BNP Paribas Securities (before 4 p.m. Services Paris time) Sale on the NYSE of the AbbVie shares tendered in the Beginning August sales facility 21, 2017 As soon as possible after receipt of the Settlement of the proceeds of the sale to the relevant proceeds of the financial institutions sale Delisting Delisting and last day of trading of AbbVie shares on Euronext Paris September 1, 2017 Removal of AbbVie shares from the operations of Euroclear France October 2, 2017
AbbVie's shareholders participating in the sales facility are reminded that they acknowledge and accept the risk implied from the change in the AbbVie share market price or applicable exchange rates between the end of the sales facility, from which their tender order will become irrevocable, and the sale of the AbbVie shares on the NYSE. The tenders orders are irrevocable.
The AbbVie shares will be delisted from Euronext Paris at the end of the day on September 1, 2017. As from such date, shareholders who have chosen not to sell their shares through the sales facility will be able to trade them on the NYSE under the terms and conditions applicable by their financial intermediary.
The AbbVie shares will be removed from the operations of Euroclear France on October 2, 2017.
AbbVie will continue to be listed on the NYSE under the symbol "ABBV."
Shareholders may request any additional information from their custodian and usual financial intermediary, who has received the details of the delisting.
This is a disclosure announcement from PR Newswire.
SOURCE AbbVie, Inc.