Irish Continental Migration Of Participating Securities

 
TIDMIRSH 
 
 
   Migration of Participating Securities expected to take effect on 15 
March 2021 
 
   10 March 2021 
 
   10 March 2021:  Irish Continental Group plc (the "Company") provides the 
following update in relation to the proposed migration of its ordinary 
shares i.e. ICG Units ("Ordinary Shares") as part of the scheduled 
migration of Irish corporate securities,  from CREST to Euroclear Bank 
("Migration") under the  Migration of Participating Securities Act 2019 
("2019 Act"). 
 
   Following the approval of all resolutions necessary to facilitate 
participation of the Company's Ordinary Shares in Migration at the 
extraordinary general meeting of the Company held on 12 February 2021, 
the Company has consented to the Migration and has made the requisite 
notifications to the Irish Companies Registration Office and Euronext 
Dublin. Accordingly, the Company confirms that all steps required to be 
taken by the Company pursuant to the 2019 Act and the Migration Guide to 
give effect to Migration have now been completed. 
 
   Timetable 
 
   Euronext Dublin has published a statement relating to its obligations 
under the 2019 Act. This statement can be found at the following link: 
https://www.globenewswire.com/Tracker?data=6dnmoqBcuijpm1U1L6FSsZyeHAf3EyHmpGiW-7nSz6Zozz1y1yuI0VZjAUt-F-tphajvSXZcdvrdRsK69w8a9YnC-MPeM5Y4TwEZh6zvKdybrj4IC7HtERsIt0AuuYCX8dNTJSriwuOukOGCMQKe7w== 
https://www.euronext.com/en/media/4354/ 
 
   This statement is to the effect that Migration under the 2019 Act is 
scheduled to proceed in accordance with the indicative timetable which 
was previously communicated to the market, most recently on 17 February 
2021.  In particular Euronext Dublin has advised that the Live Date on 
which Migration is to take effect is 15 March 2021 and further that this 
date will be formally appointed by Euronext Dublin as the Live Date for 
Migration on 12 March 2021. 
 
   Accordingly, no changes are anticipated in relation to the dates falling 
after the date of this announcement as set out in the timetable 
contained in the Company's EGM Circular in respect of Migration. 
 
   Actions to be taken by Shareholders 
 
   For Shareholders who hold their shares in paper form (i.e. outside of 
CREST and in "certificated" form) there will be no change to what is 
owned and how it is held. Therefore, the impact of Migration on such 
Shareholders is expected to be minimal and no immediate action is 
required. 
 
   For Shareholders who hold their shares through CREST (in uncertificated 
form), Migration will result in changes to what is technically owned, 
how the interest is held, and how rights related to the shares will be 
exercised. Details of those changes are set out in the EGM Circular. In 
relation to the mechanism for holding interests in particular: 
 
 
   -- Retail shareholders who hold their shares electronically in CREST - 
      through a broker, custodian or nominee - will continue to hold their 
      interest through that broker, custodian or nominee, as a CREST Depository 
      Interest or (assuming the broker, custodian or nominee is or becomes a 
      participant in the Euroclear System in the way they are in CREST) as a 
      Belgian Law Right in the Euroclear System. 
 
   -- Institutional shareholders who hold their Shares electronically in CREST 
      directly in their own name (i.e. as a CREST member), will continue to be 
      able to hold their interests in shares directly in their own name as a 
      CREST Depository Interest or (provided they become a participant in the 
      Euroclear Bank system) as a Belgian Law Right in the Euroclear Bank 
      system. Where such shareholders wish to hold in the Euroclear Bank system 
      but are not or do not become a Euroclear Bank Participant, they will need 
      to enter into an arrangement with a broker, custodian or nominee who is a 
      participant, so that they can hold the relevant interest for them. 
 
 
 
   If they have not done so already, Company Shareholders holding their 
shares in CREST are strongly encouraged to consult with their 
stockbroker or other intermediary without delay. Migration will result 
in a significant change in both the form and nature of shareholding in 
the Company, and the substance of, and manner in which, rights can be 
exercised. In particular, Migration will result in important changes to 
the processes and timelines for submitting proxy voting instructions for 
the Company's forthcoming AGM. Shareholders should familiarise 
themselves with the new processes and timelines, and ensure all 
necessary actions have been taken on their part and by their stockbroker 
or other intermediary, to ensure they can continue to enjoy their voting 
and proxy appointment rights in the context of the new Euroclear System. 
 
   The Company does not intend to issue any further updates on Migration as 
it affects the Company before Migration, save to the extent that there 
is a material change to the information previously provided. 
 
   Defined terms used in this announcement have the same meaning as set out 
in the Company's Circular to Shareholders dated 15 January 2021. 
 
   Shareholders are also referred to the Migration Guide (Version 3 January 
2021) for further details in relation to the operation of Migration. 
 
   For further enquiries contact: 
 
   Thomas Corcoran 
 
   Company Secretary 
 
   Tel: [phone] 
 
 
 
 
 
 

(END) Dow Jones Newswires

March 10, 2021 03:25 ET (08:25 GMT)

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