Unibail-Rodamco-Westfield’s Announcement of CDIs and Stapled Shares Conversion Deferral for the 2025 Annual General Meeting
Paris, March 31, 2025 – Unibail-Rodamco-Westfield SE (URW) has recently announced important updates regarding the conversion of its Convertible Depositary Interests (CDIs) and stapled shares in relation to the company’s upcoming Annual General Meeting (AGM), scheduled for April 29, 2025.
Record Date and Voting Instructions
URW has set April 16, 2025, as the record date for determining the entitlement of CDI holders to provide voting instructions for the AGM. Shareholders who hold stapled shares, on the other hand, will have their voting rights determined on April 25, 2025.
Deferral of Conversions
URW has requested and received approval from the Australian Securities Exchange (ASX) to defer the processing of conversions between stapled shares and CDIs during the period from April 14, 2025, to April 25, 2025. This deferral applies to both dates inclusive.
Impact on CDI Holders
For CDI holders, this means they will not be able to convert their CDIs into stapled shares during the aforementioned period. This could potentially affect their ability to vote on certain resolutions at the AGM, as they would not yet hold the corresponding stapled shares.
Impact on the World
The deferral of conversions between CDIs and stapled shares in URW may set a precedent for other companies in similar situations. By seeking approval from the ASX to delay the conversion process, URW is demonstrating flexibility in addressing the needs of its shareholders while complying with regulatory requirements.
Conclusion
The announcement of Unibail-Rodamco-Westfield’s deferral of conversions between CDIs and stapled shares during the period leading up to its 2025 Annual General Meeting is an important development for the company and its shareholders. This decision may have implications for the broader investment community, potentially setting a precedent for other companies facing similar circumstances.
For individual investors, it is crucial to stay informed about the specific requirements and deadlines of companies in which they hold shares. This information can be obtained through various channels, including company websites, regulatory filings, and investor relations departments.
- URW sets April 16, 2025, as the record date for CDI holders to provide voting instructions for the AGM.
- The company has received approval from the ASX to defer conversions between stapled shares and CDIs from April 14 to April 25, 2025.
- This deferral may impact CDI holders’ ability to vote on certain resolutions at the AGM.
- The decision could set a precedent for other companies facing similar circumstances.
