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.