Liberty Global Announces Record and Distribution Dates for Upcoming Split-Off of Latin American Division
December 12 2017 - 5:45PM
Business Wire
- New company to be named “Liberty Latin
America”
- After split-off, new company shares to
replace tracking stock
Liberty Global plc (“Liberty Global”) (NASDAQ: LBTYA, LBTYB,
LBTYK, LILA and LILAK) today announced that, in connection with the
previously announced split-off of its subsidiary Liberty Latin
America Ltd. (“Liberty Latin America”), which comprises Liberty
Global’s operations in Latin America and the Caribbean that are
currently attributed to its “LiLAC Group,” it has set a record date
of 5:00 p.m. New York City time, on December 26, 2017 (the “Record
Date”) and a distribution date of 5:00 p.m., New York City time, on
December 29, 2017 (the “Distribution Date”), for the distribution
of Liberty Latin America common shares. As a result of the
split-off, holders of LiLAC Group Class A, Class B and Class C
ordinary shares will receive a distribution of one Liberty Latin
America share of the same class for each such LiLAC Group ordinary
share held as of the Record Date. We expect that Liberty Global’s
LiLAC Group ordinary shares will cease trading, and the Liberty
Latin America common shares will begin trading, on January 2,
2018.
The Liberty Latin America Class A and Class C common shares will
be listed on the Nasdaq Global Select Market under the symbols
“LILA” and “LILAK,” respectively, and the Liberty Latin America
Class B common shares will be quoted on the OTC Markets under the
symbol “LILAB.” Holders of Liberty Global ordinary shares will not
participate in the split-off. Following the split-off, Liberty
Global Class A, Class B and Class C ordinary shares will
continue to trade on the Nasdaq Global Select Market under the
symbols LBTYA, LBTYB and LBTYK, respectively, and the tracking
stock structure will no longer exist.
The split-off is being made by means of a prospectus. A copy of
the prospectus can be obtained, at no cost, by writing or
telephoning Liberty Latin America Ltd. at 1550 Wewatta Street,
Suite 710, Denver, Colorado 80202, Telephone: (303) 925-6000. A
registration statement, which includes the prospectus, relating to
Liberty Latin America’s common shares has been filed with, and
declared effective by, the U.S. Securities and Exchange Commission
(“SEC”). The registration statement can be accessed through the
SEC's website at www.sec.gov.
Forward-Looking Statements and Disclaimer
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding our planned split-off of the
businesses attributed to the LiLAC Group, the listing of the
Liberty Latin America common shares for trading, and other
information and statements that are not historical fact. These
forward-looking statements involve certain risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied by these statements. These risks and
uncertainties include events that are outside of our control, such
as Liberty Global's ability to satisfy the conditions to the
split-off, the development of a trading market for Liberty Latin
America’s common shares, the Liberty Global Board of Director’s
discretion to decide not to complete the split-off for any reason,
and other factors detailed from time to time in our filings with
the Securities and Exchange Commission, including our most recently
filed Form 10-K, as amended, and Form 10-Q. These forward-looking
statements speak only as of the date of this release. We expressly
disclaim any obligation or undertaking to disseminate any updates
or revisions to any forward-looking statement contained herein to
reflect any change in our expectations with regard thereto or any
change in events, conditions or circumstances on which any such
statement is based.
About Liberty Global
Liberty Global is the world’s largest international TV and
broadband company, with operations in more than 30 countries across
Europe, Latin America and the Caribbean. We invest in the
infrastructure that empowers our customers to make the most of the
digital revolution. Our scale and commitment to innovation enable
us to develop market-leading products delivered through
next-generation networks that connect our over 24 million customers
who subscribe to over 50 million television, broadband internet and
telephony services. We also serve over 10 million mobile
subscribers and offer WiFi service across 10 million access
points.
Liberty Global’s businesses are currently comprised of two
stocks: the Liberty Global Group (NASDAQ: LBTYA, LBTYB and LBTYK)
for our European operations, and the LiLAC Group (NASDAQ: LILA and
LILAK, OTC Link: LILAB), which consists of our operations in Latin
America and the Caribbean.
The Liberty Global Group operates in 12 European countries under
the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The
Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint
venture, which has 4 million customers, 10 million fixed-line
subscribers and 5 million mobile subscribers. The LiLAC Group
operates in over 20 countries in Latin America and the Caribbean
under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In
addition, the LiLAC Group operates a sub-sea fiber network
throughout the region connecting over 40 markets.
For more information, please visit www.libertyglobal.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171212006442/en/
Liberty Global Investor RelationsOskar
Nooij, +1 303 220 4218John Rea, +1 303 220 4238Stefan Halters, +1
303 784 4528orLiberty Global Corporate
CommunicationsMatt Beake, +44 20 8483 6428Julia Hart,
+31 20 778 3345orLiberty Latin America Investor
RelationsKunal Patel,+1 786 376 9294
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