Herbalife Ltd. Announces Strategic Name Change to Herbalife Nutrition Ltd., Reflecting its Leadership as a Premier Global Nut...
April 24 2018 - 5:10PM
Business Wire
Shareholders Approve Two-for-One Stock
Split
Herbalife Ltd. (NYSE: HLF) today announced its name change to
“Herbalife Nutrition Ltd.”, as approved by shareholders at its
annual general meeting of shareholders. The evolution of the
Company’s name reflects the investments Herbalife Nutrition has
made to become a leader in the nutrition industry, and its
commitment to making the world healthier and happier.
“More than ever before, consumers give our distributors
permission to be their partner in seeking better nutrition and a
more healthy and active lifestyle. Our new name, Herbalife
Nutrition, reflects our strategic transformation as a leader in the
nutrition industry,” said Rich Goudis, Herbalife Nutrition CEO.
Common shares of Herbalife Nutrition, which are traded on the
New York Stock Exchange (NYSE), will begin trading under the new
name on April 25, 2018; the ticker symbol will remain “HLF”. In
addition to the name change, shareholders also voted to approve a
previously announced two-for-one stock split. The record date for
the stock split is May 7, 2018 and the stock split distribution
date is May 14, 2018. Common share certificates bearing the old
Company name, "Herbalife Ltd.", continue to be valid, and
shareholders are not required to exchange their existing common
share certificates for new certificates bearing the new company
name.
The Company now has more than 300 staff scientists and five
state-of-the-art innovation and manufacturing facilities. Its
Nutrition Advisory Board, Dietetic Advisory Board, and Fitness
Advisory Board are comprised of leading experts in the fields of
nutrition, health, and fitness. These advisors support distributor
education and training, product development and innovation
initiatives. The Herbalife Nutrition Institute also serves as an
informational resource dedicated to promoting excellence in the
field of nutrition.
In addition to offering customers quality nutrition products and
a wide-ranging, customizable wellness program, Herbalife Nutrition
also provides an economic opportunity to those interested in
part-time or full-time work. The Company’s products are available
exclusively through a global network of dedicated independent
distributors who provide a unique one-on-one, high-touch experience
for their customers. This “Distributor Difference” is critically
needed in the field of nutrition because of the complexity
involved, and personalization essential to weight management due to
the necessary behavior and lifestyle change required to live a more
healthy and active life.
About Herbalife Nutrition Ltd.:
Herbalife Nutrition is a global nutrition company whose purpose
is to make the world healthier and happier. The Company has been on
a mission for nutrition - changing people's lives with great
nutrition products and programs - since 1980. Together with our
Herbalife Nutrition independent distributors, we are committed to
providing solutions to the worldwide problems of poor nutrition and
obesity, an aging population, skyrocketing public healthcare costs
and a rise in entrepreneurs of all ages. Herbalife Nutrition offers
high-quality, science-backed products, most of which are produced
in Company-operated facilities, one-on-one coaching with an
Herbalife Nutrition independent distributor, and a supportive
community approach that inspires customers to embrace a healthier,
more active lifestyle.
Herbalife Nutrition’s targeted nutrition, weight-management,
energy and fitness and personal care products are available
exclusively to and through its independent distributors in more
than 90 countries. Through its corporate social responsibility
efforts, Herbalife Nutrition supports the Herbalife Family
Foundation (HFF) and its Casa Herbalife programs to help bring good
nutrition to children in need. Herbalife Nutrition is also proud to
sponsor more than 190 world-class athletes, teams and events around
the globe, including Cristiano Ronaldo, the LA Galaxy, and numerous
Olympic teams.
Herbalife Nutrition has over 8,000 employees worldwide, and its
shares are traded on the New York Stock Exchange (NYSE: HLF) with
net sales of approximately $4.4 billion in 2017. To learn more,
visit Herbalife.com or IAmHerbalife.com.
Herbalife Nutrition also encourages investors to visit its
investor relations website at ir.herbalife.com as financial and
other information is updated and new information is posted.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements." All
statements other than statements of historical fact are
"forward-looking statements" for purposes of federal and state
securities laws. Forward-looking statements include, but are not
limited to, statements regarding the Company's initiative to
enhance shareholder value as described herein, including the
corporate name change and anticipated stock split, and our
expectations, hopes or intentions regarding such future plans.
Forward-looking statements may include the words "may," "will,"
"estimate," "intend," "continue," "believe," "expect" or
"anticipate" and any other similar words. Although we believe that
the expectations reflected in any of our forward-looking statements
are reasonable, actual results could differ materially from those
projected or assumed in any of our forward-looking statements. Our
future financial condition and results of operations, as well as
any forward-looking statements, are subject to change and to
inherent risks and uncertainties, such as those disclosed or
incorporated by reference in our filings with the SEC. Given
these uncertainties, you should not place undue reliance on these
forward-looking statements. Forward-looking statements represent
our estimates and assumptions only as of the date of this press
release. No assurances can be given that the anticipated stock
split or name change will be implemented. We expressly disclaim any
duty to provide updates to forward-looking statements, and the
estimates and assumptions associated with them, after the date of
this press release, in order to reflect changes in circumstances or
expectations or the occurrence of unanticipated events, except to
the extent required by applicable securities laws. All
forward-looking statements are qualified in their entirety by
reference to the factors discussed above and under "Risk Factors"
set forth in Part I, Item 1A and elsewhere of the Company's Annual
Report on Form 10-K, filed with
the SEC on February 22, 2018, as well as the
risks and uncertainties discussed in the Company's other filings
with the SEC. We qualify all of our forward-looking statements
by these cautionary statements. We caution you that these risks are
not exhaustive.
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version on businesswire.com: https://www.businesswire.com/news/home/20180424006514/en/
Herbalife Ltd.Media Contacts:Jennifer ButlerVP, Media
Relations213.745.0420jenb@herbalife.comorGary
KishnerDirector, Media
Relations213.745.0456garyki@herbalife.comorInvestor
Contact:Eric MonroeDirector, Investor
Relations213.745.0449ericm@herbalife.com
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