SLB announces voluntary delisting from Euronext Paris
25 Juli 2024 - 2:00AM
Business Wire
Regulatory News:
SLB (NYSE: SLB) today announced that it will proceed with a
voluntary delisting of its shares (ISIN: AN8068571086) from
Euronext Paris.
Consistent with its prior decisions to delist from other
exchanges, SLB reviewed the low trading volumes on the Euronext
Paris and, given the increasing costs, administrative requirements
and managerial time required to maintain a dual listing, has
requested a voluntary delisting from the Euronext Paris.
SLB became a public company in 1962 with its orignal listing on
the New York Stock Exchange (NYSE), which has been its primary
exchange. SLB will maintain its single listing on NYSE under the
symbol “SLB”.
The delisting has been approved by the Board of Directors of
Euronext Paris and the company’s shares will remain listed on the
NYSE under the symbol “SLB”.
The holders of SLB shares traded on Euronext and held through
the facilities of Euroclear France (the “SLB Euronext Shares”) will
have the following options:
- keep their SLB Euronext Shares, which they will be able to
trade on Euronext Paris until the day before the delisting date and
on the NYSE thereafter through the facilities of The Depositary
Trust Company (“DTC”), subject to the terms applied by their
financial intermediary and their custody arrangements; or
- participate in a voluntary sales facility (described below) to
sell all or part of their SLB Euronext Shares, in accordance with
the rules and regulations of Euronext Paris.
For the avoidance of doubt, holders of SLB Euronext Shares will
be able to trade on Euronext Paris until August 16, 2024 (the last
trading date prior to the delisting).
Procedure of the Voluntary Sales Facility
Shareholders who wish to sell their SLB Euronext Shares
utilizing the voluntary sales facility should request that their
financial intermediaries deliver their SLB Euronext Shares to
Uptevia, acting as centralizing agent, at any time from July 29,
2024, to August 12, 2024 (inclusive).
SLB Euronext Shares delivered to Uptevia will be sold on the
NYSE as from August 15, 2024, at the market price prevailing at the
time of sale.
Uptevia will calculate the average sales price of SLB Euronext
Shares sold during the sales period and transfer the sale proceeds
(which will be converted into euros from U.S. dollars by Uptevia)
to the participating shareholders once it receives the funds.
The company will pay the fees for the centralization and the
brokerage fee related to the sale of SLB Euronext Shares delivered
to Uptevia as part of the voluntary sales facility.
This voluntary sales facility procedure is also described in a
Euronext notice to be published on July 25, 2024.
Please note that no guarantee can be given by the company or by
Uptevia as to the price at which the SLB Euronext Shares tendered
pursuant to the voluntary sales facility will actually be sold.
This process is being provided solely as an accommodation to
holders of SLB Euronext Shares.
Shareholders may decide not to participate in the voluntary
sales facility or may decide not to take any action, in which case
no guarantee can be given to them on the terms that will be applied
by their financial intermediary after the delisting. Shareholders
are urged to consult their own investment advisors before making a
decision to participate or not in this process.
The calendar of the voluntary sales facility and the delisting
of the company described above is summarized as follows (it being
specified that the company reserves the right to amend this
calendar):
Event
Date
Voluntary Sales Facility
Beginning of the voluntary sales
facility
July 29, 2024
End of the voluntary sales facility
August 12, 2024
End of the centralization by Uptevia
August 14, 2024 (before 4:00 PM Paris
time)
Sale on the NYSE of the shares tendered in
the voluntary sales facility
Beginning August 15, 2024
Settlement of the proceeds of the sale to
the relevant financial institutions
As soon as possible after receipt of the
proceeds of the sale
Delisting
Last day of trading of the company’s
shares on Euronext Paris
August 16, 2024
Delisting of SLB Euronext Shares on
Euronext Paris
August 19, 2024
Shareholders participating in the voluntary sales facility are
reminded that they acknowledge and accept the risks related to the
change in the share market price and/or applicable foreign exchange
rates between the date on which their shares are delivered to
Uptevia for participation in the voluntary sales facility and the
receipt of the applicable average sale proceeds. All tenders of SLB
Euronext Shares under the voluntary sales facility will be
irrevocable.
Shareholders who would like additional information about the
voluntary sales facility or the delisting procedure may contact
their custodian and usual financial intermediary, who has received
the details of the delisting or the company by email at
investor-relations@slb.com.
About SLB
SLB (NYSE: SLB) is a global technology company that drives
energy innovation for a balanced planet. With a global footprint in
more than 100 countries and employees representing almost twice as
many nationalities, we work each day on innovating oil and gas,
delivering digital at scale, decarbonizing industries, and
developing and scaling new energy systems that accelerate the
energy transition. Find out more at slb.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240724224924/en/
Media Moira Duff – Director of External Communications
SLB Tel: +1 (713) 375-3407 media@slb.com
Investors James R. McDonald – SVP of Investor Relations
& Industry Affairs Joy V. Domingo – Director of Investor
Relations SLB Tel: +1 (713) 375-3535 investor-relations@slb.com
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