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Liberty Global Shareholders Vote In Favor Of Change Of Jurisdiction Of Incorporation To Bermuda
(RTTNews) - Liberty Global (LBTYA, LBTYB and LBTYK), a video, broadband and communications company, announced Friday that its shareholders have voted in favor of the company's proposal to change its jurisdiction of incorporation to Bermuda from England and Wales.
The change of incorporation facilitates value-enhancing transactions and reduces administrative burdens and expenses, while preserving strong accountability and corporate governance.
Liberty Global's shareholders voted strongly in favor of all proposals related to the change in jurisdiction at a series of special meetings held yesterday. The percentage of votes in favor ranged from 88 to 95 percent of votes cast across each of the company's three classes of stock.
Liberty Global will now proceed with the relevant legal and regulatory procedures to effect the change. These procedural steps include court hearings in England and the closing, if conditions are met, would not occur until November of 2023.
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