REG - Unilever PLC - Demerger of Unilever’s Ice Cream Business

UnileverAnnouncement

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RNS Number : 3635K  Unilever PLC  05 December 2025

Unilever PLC

Demerger of Unilever's Ice Cream Business - Update

Unilever PLC ("Unilever") announces that the demerger of its ice cream
business, now known as The Magnum Ice Cream Company N.V. ("TMICC"), (the
"Demerger") will complete on Saturday 6 December 2025.

Admission of the ordinary shares in TMICC ("TMICC Shares") to listing and
trading in Amsterdam, London and New York, and the commencement of dealings in
TMICC Shares, are expected to take place on Monday 8 December 2025.

Today's announcement follows the publication by TMICC on Wednesday 3 December
2025 of its prospectus for the purposes of the admission to listing and
trading of TMICC Shares on Euronext Amsterdam, to listing on the Equity Shares
(Commercial Companies) Category of the Official List of the FCA and to trading
on the London Stock Exchange's Main Market for listed securities (the
"Prospectus"). TMICC's registration statement with respect to the registration
of TMICC Shares under the US Exchange Act, and admission to trading on the New
York Stock Exchange (the "Registration Statement") became effective on
Thursday 4 December 2025.

Further information on key dates and timings regarding the Demerger and the
Share Consolidation is set out at the end of this announcement.

Share Consolidation

As set out in the circular published by Unilever on Thursday 2 October 2025 in
relation to the Share Consolidation (the "Circular") and approved by
shareholders on Tuesday 21 October 2025, Unilever expects that, shortly
following the Demerger, it will consolidate (or sub-divide and consolidate)
its existing issued share capital in order to reduce the total number of
ordinary shares in Unilever in issue (while increasing the nominal value per
share).

The Share Consolidation is intended to maintain comparability, so far as
practicable, between Unilever's share price and per share metrics (including
earnings per share and dividends per share) before and after the Demerger.

Further information on the Share Consolidation is set out in the Circular, and
Unilever will make further announcements regarding the Share Consolidation in
due course.

The Circular is available on Unilever's website at www.unilever.com/gm
(http://www.unilever.com/gm) . Shareholders are encouraged to read the
Circular in full.

 

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

 

Capitalised terms used below have the same meanings as in the Circular.

 

 Event                                                                          Indicative timings and/or dates((1))

 Latest time and date for transfers of Unilever Shares to be registered in      6:00 p.m. on Friday 5 December 2025
 order for the transferee to be registered at the Demerger Record Time

 Demerger Record Time                                                           10:00 p.m. on Friday 5 December 2025

 Demerger Effective Time                                                        6:00 p.m. on Saturday 6 December 2025

 Issuance of Retained Shares to the Unilever Group                              Sunday 7 December 2025

 Ex dividend date for the Demerger                                              Monday 8 December 2025

 Admission of TMICC to trading on each of Euronext Amsterdam, the London Stock  Monday 8 December 2025
 Exchange and the New York Stock Exchange

 TMICC Shares commence trading on Euronext Amsterdam                            9:00 a.m. (Amsterdam time) on Monday 8 December 2025

 TMICC Shares commence trading on the London Stock Exchange                     8:00 a.m. on Monday 8 December 2025

 Crediting of TMICC Shares in DTC                                               As soon as possible after 8:00 a.m. (New York time) on Monday 8 December 2025

 Crediting of CREST accounts and Euroclear accounts with TMICC Depositary       As soon as possible after 8:00 a.m. (New York time) on Monday 8 December 2025
 Interests

 TMICC Shares commence trading on the New York Stock Exchange                   9:30 a.m. (New York time) on Monday 8 December 2025

 Share Consolidation Record Time                                                10:00 p.m. on Monday 8 December 2025

 Share Consolidation becomes effective((2))                                     8:00 a.m. on Tuesday 9 December 2025

 New Unilever Shares commence trading on the London Stock Exchange              8:00 a.m. on Tuesday 9 December 2025

 New Unilever Shares commence trading on Euronext Amsterdam                     9:00 a.m. (Amsterdam time) on Tuesday 9 December 2025

 Crediting of CREST accounts with New Unilever Shares                           As soon as possible after 8:00 a.m. on Tuesday 9 December 2025

 New Unilever ADSs commence trading on the New York Stock Exchange              9:30 a.m. (New York time) on Tuesday 9 December 2025

 Despatch of statements for TMICC Shares                                        by Monday 22 December 2025

 Despatch of fractional payments resulting from the sale of the aggregated      by Monday 22 December 2025
 TMICC Shares as a result of the Demerger

 Despatch of certificates for New Unilever Shares                               by Tuesday 23 December 2025

 Despatch of fractional payments resulting from the sale of aggregated New      by Tuesday 23 December 2025
 Unilever Shares as a result of the Share Consolidation

()(1) References to times in the table above and throughout this announcement
are to London (UK) time unless otherwise stated. These times and/or dates
remain subject to change. If any of the times and/or dates above change, the
revised times and/or dates will be notified to Unilever Shareholders and
Unilever ADS Holders by an announcement through an RNS and on Unilever's
website:
 https://www.unilever.com/investors/news-and-announcements/regulatory-announcements/.

()(2) The Share Consolidation was approved by Unilever Shareholders on Tuesday
21 October 2025 and is expected to take place on Tuesday 9 December 2025 (or
such other date as the Unilever Board may determine). The ratio for the Share
Consolidation is expected to be determined on the afternoon of Monday 8
December 2025.

 

For further information, please contact:

 

Investor Relations: Investor.Relations@unilever.com
(mailto:Investor.Relations@unilever.com)

Unilever Press Office: Press-Office.London@unilever.com
(mailto:Press-Office.London@unilever.com)

 

 

Cautionary Statement

 

This announcement may contain forward-looking statements within the meaning of
the securities laws of certain jurisdictions, including 'forward-looking
statements' within the meaning of the United States Private Securities
Litigation Reform Act of 1995. All statements other than statements of
historical fact are, or may be deemed to be, forward-looking statements. Words
and terminology such as 'will', 'aim', 'expects', 'anticipates', 'intends',
'looks', 'believes', 'vision', 'ambition', 'target', 'goal', 'plan',
'potential', 'work towards', 'may', 'milestone', 'objectives', 'outlook',
'probably', 'project', 'risk', 'continue', 'should', 'would be', 'seeks', or
the negative of these terms and other similar expressions of future
performance, results, actions or events, and their negatives, are intended to
identify such forward-looking statements. Forward-looking statements also
include, but are not limited to, statements and information regarding
Unilever's emissions reduction and other sustainability-related targets and
other climate and sustainability matters (including actions, potential impacts
and risks and opportunities associated therewith). Forward-looking statements
can be made in writing but also may be made verbally by directors, officers
and employees of the Unilever Group (the "Group") (including during management
presentations) in connection with this announcement. These forward-looking
statements are based upon current expectations and assumptions regarding
anticipated developments and other factors affecting the Group. They are not
historical facts, nor are they guarantees of future performance or outcomes.
All forward-looking statements contained in this announcement are expressly
qualified in their entirety by the cautionary statements contained in this
section. Readers should not place undue reliance on forward-looking
statements.

Because these forward-looking statements involve known and unknown risks and
uncertainties, a number of which may be beyond the Group's control, there are
important factors that could cause actual results to differ materially from
those expressed or implied by these forward-looking statements. Among other
risks and uncertainties, the material or principal factors which could cause
actual results to differ materially from the forward-looking statements
expressed in this announcement are: Unilever's global brands not meeting
consumer preferences; Unilever's ability to innovate and remain competitive;
Unilever's investment choices in its portfolio management; the effect of
climate change on Unilever's business; Unilever's ability to find sustainable
solutions to its plastic packaging; significant changes or deterioration in
customer relationships; the recruitment and retention of talented employees;
disruptions in Unilever's supply chain and distribution; increases or
volatility in the cost of raw materials and commodities; the production of
safe and high-quality products; secure and reliable IT infrastructure;
execution of acquisitions, divestitures and business transformation projects,
including the proposed separation of our Ice Cream business and the proposed
consolidation of our share capital in connection with the demerger; economic,
social and political risks and natural disasters; financial risks; failure to
meet high and ethical standards; and managing regulatory, tax and legal
matters and practices with regard to the interpretation and application
thereof and emerging and developing ESG reporting standards including
differences in implementation of climate and sustainability policies in the
regions where the Group operates.

The forward-looking statements are based on our beliefs, assumptions and
expectations of our future performance, taking into account all information
currently available to us. Forward-looking statements are not predictions of
future events. These beliefs, assumptions and expectations can change as a
result of many possible events or factors, not all of which are known to us.
If a change occurs, our business, financial condition, liquidity and results
of operations may vary materially from those expressed in our forward-looking
statements.

The forward-looking statements speak only as of the date of this announcement.
Except as required by any applicable law or regulation, the Group expressly
disclaims any intention, obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained herein to
reflect any change in the Group's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based. New risks and uncertainties arise over time, and it is not possible for
us to predict those events or how they may affect us. In addition, we cannot
assess the impact of each factor on our business or the extent to which any
factor, or combination of factors, may cause actual events, to differ
materially from those contained in any forward-looking statements. Further
details of potential risks and uncertainties affecting the Group are described
in the Group's filings with the London Stock Exchange, Euronext Amsterdam and
the US Securities and Exchange Commission, including in the Annual Report on
Form 20-F 2024 and the Unilever Annual Report and Accounts 2024.

 

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