Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Thomson Reuters Corp       CA8849031056

THOMSON REUTERS CORP

  Report  
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations
The feature you requested does not exist. However, we suggest the following feature:

Thomson Reuters : Announces Share Consolidation Ratio for Return of Capital Transaction

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/26/2018 | 11:50pm EDT

Shares to begin trading tomorrow on the TSX and NYSE on a post-consolidated basis

TORONTO, Nov. 26, 2018 /CNW/ -- Thomson Reuters (TSX/NYSE: TRI) today announced the share consolidation ratio for its return of capital transaction which will be effective at 3:01 a.m. (Toronto time) tomorrow. The company's common shares will begin trading on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) on a post-consolidated basis when markets open tomorrow. The company's trading symbol will remain "TRI" on both exchanges. The new CUSIP number for the post-consolidated common shares is 884903709 and the new ISIN number is CA8849037095.

  • The return of capital transaction consists of a distribution of US$4.45 in cash per common share (approximately US$2.3 billion in the aggregate) and a consolidation of the company's outstanding common shares (or reverse stock split) at a ratio of 1 pre-consolidated share for 0.9079 post-consolidated shares). The share consolidation is proportional to the cash distribution and the share consolidation ratio was based on the volume weighted average trading price of the shares on the NYSE for the five trading day period which ended today.
  • Eligible shareholders who duly exercised their right to opt out of the transaction will not receive the cash distribution and will continue to hold the same number of shares that they held prior to the effective time of the transaction.

Thomson Reuters logo. (PRNewsFoto/Thomson Reuters)

As of November 26, 2018, the company had 552,574,909 common shares issued and outstanding. When the return of capital transaction is effective and the shares are consolidated, the company will reduce the total number of its issued and outstanding common shares to 504,916,616. 

Computershare Trust Company of Canada, the company's depositary for the transaction, will deliver cash distribution amounts to registered participating shareholders as promptly as practicable, subject to the terms and conditions of the transaction. The effects of the share consolidation will be reflected in the company's share register. Beneficial or non-registered shareholders participating in the transaction will receive cash distributions from their bank, broker or other intermediary and the effects of the share consolidation will be recorded in their accounts.

Fractional shares will not be issued as part of the return of capital transaction and shareholders will receive the value of any fractional shares in cash, subject to certain exceptions described in the management proxy circular.

As previously announced, the transaction is generally expected to be tax-free for Canadian tax purposes. A U.S. shareholder who has chosen to opt out of the transaction generally is not expected to be subject to U.S. federal income tax or Canadian federal income tax. A U.S. shareholder who participates in the transaction generally is expected to be subject to U.S. federal income tax on any gain realized and is not expected to be subject to Canadian federal income tax. The tax consequences of the proposed return of capital transaction are complex. This summary reflects certain assumptions and limitations and it is qualified in its entirety by the "Income Tax Considerations" section of the management proxy circular for the return of capital transaction.

The return of capital transaction is one of several ways that the company is returning US$10 billion of proceeds from its recently closed Financial & Risk transaction to its shareholders. Following the return of capital transaction, the company will have returned approximately US$9.8 billion of this amount. The company plans to complete the return of proceeds later this year through the repurchase of approximately US$200 million of its shares under its normal course issuer bid.

The full details of the return of capital transaction are described in the company's management proxy circular dated October 16, 2018 and related materials, which are available on www.thomsonreuters.com in the "Investor relations" section. The return of capital documents were previously filed with the Canadian securities regulatory authorities on SEDAR and are available at www.sedar.com. The documents were also furnished to the U.S. Securities and Exchange Commission through EDGAR and are available at www.sec.gov.

Thomson Reuters
Thomson Reuters (TSX/NYSE: TRI) is the world's leading provider of news and information-based tools to professionals. Our worldwide network of journalists and specialist editors keep customers up to speed on global developments, with a particular focus on legal, regulatory and tax changes. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements in this news release are forward-looking, including statements relating to the timing of the return of capital transaction. These forward-looking statements are based on certain assumptions and reflect our company's current expectations. As a result, forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including other factors discussed in materials that Thomson Reuters from time to time files with, or furnishes to, the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. There is no assurance that the return of capital transaction will be completed or that other events described in any forward-looking statement will materialize. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements.

CONTACTS

 

MEDIA

David Crundwell

Senior Vice President, Corporate Affairs

+1 416 649 9904

david.crundwell@tr.com

 

INVESTORS

Frank J. Golden

Senior Vice President, Investor Relations

+1 646 223 5288

frank.golden@tr.com

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/thomson-reuters-announces-share-consolidation-ratio-for-return-of-capital-transaction-300755631.html

SOURCE Thomson Reuters

© Canada Newswire, source Canada Newswire English

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on THOMSON REUTERS CORP
04/22THOMSON REUTERS : celebrates Earth Day with new carbon targets | Thomson Reuters
PU
04/22THOMSON REUTERS : celebrates Earth Day with new carbon targets
AQ
04/15THOMSON REUTERS : Reuters wins Pulitzer Prizes for International Reporting and B..
PU
04/11THOMSON REUTERS : announces Panoramic, a new vision for the way law firm lawyers..
PU
04/11DEUTSCHE BOERSE : in Talks with Refinitiv Over Forex Units
DJ
04/10DEUTSCHE BOERSE : says it is in talks to buy some Refinitiv FX units
RE
04/10NEWS HIGHLIGHTS : Top Company News of the Day
DJ
04/10NEWS HIGHLIGHTS : Top Company News of the Day
DJ
04/03THOMSON REUTERS : Tradeweb Prices IPO of 40 Million Shares at $27 per Share
DJ
04/03THOMSON REUTERS : PGA TOUR, Professional Squash Association and Lagardère Sports..
PU
More news
Financials ($)
Sales 2019 5 934 M
EBIT 2019 817 M
Net income 2019 788 M
Debt 2019 1 632 M
Yield 2019 2,38%
P/E ratio 2019 127,29
P/E ratio 2020 36,40
EV / Sales 2019 5,35x
EV / Sales 2020 5,24x
Capitalization 30 140 M
Chart THOMSON REUTERS CORP
Duration : Period :
Thomson Reuters Corp Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
 
Mean consensus HOLD
Number of Analysts 16
Average target price 58,0 $
Spread / Average Target -3,4%
Managers
NameTitle
James C. Smith President, CEO & Non-Independent Director
David K. R. Thomson Non-Independent Chairman
Brian Peccarelli Co-Chief Operating Officer
Neil Masterson Co-Chief Operating Officer
Stephane Bello Chief Financial Officer & Executive Vice President
Sector and Competitors
1st jan.Capitalization (M$)
THOMSON REUTERS CORP18.51%30 140
S&P GLOBAL INC27.79%53 439
RELX5.23%43 213
THOMSON REUTERS CORP21.58%30 140
WOLTERS KLUWER20.98%19 663
EQUIFAX INC.34.03%15 149