Unilever PLC
Update on Demerger and Share Consolidation Timetable
Unilever PLC (“Unilever“) announced on 21 October 2025 that the timetable for the demerger of The Magnum Ice Cream Company N.V. (“TMICC“) (the “Demerger“) and associated consolidation of Unilever’s share capital (the “Share Consolidation“) had been revised because of the US federal government shutdown. Unilever today announces an update on the expected timetable for the Demerger and the Share Consolidation.
Unilever currently expects to complete the Demerger on 6 December 2025 with admission of the TMICC shares to listing and trading, and the commencement of dealings in TMICC shares, on 8 December 2025. Unilever also expects to complete the Share Consolidation on 9 December 2025. This timetable remains subject to change, in which case a further update will be made.
The revised expected timetable of principal events in relation to the Demerger and the Share Consolidation is set out in further detail below. If any of the expected times and/or dates change, the revised times and/or dates will be notified to Unilever shareholders and Unilever ADS holders by an announcement through a RNS and on Unilever’s website.
Unilever also announces that, in relation to the Demerger, TMICC is expected to publicly file today a registration statement on Form 20-F (the “Registration Statement“) with the U.S. Securities and Exchange Commission (the “SEC“) relating to the contemplated admission of TMICC shares to listing and trading on the New York Stock Exchange. The Registration Statement has not yet become effective and will once filed be available on the SEC’s EDGAR page at www.sec.gov.
UPDATED EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Capitalised terms used below have the same meanings as in the Unilever shareholder circular published on 2 October 2025.
| Event | Indicative timings and/or dates(1) |
| US Registration Statement filed publicly with the SEC | Tuesday 4 November 2025 |
| Expected publication date of the TMICC Prospectuses(2) | Wednesday 3 December 2025 |
| Closing of the Unilever ADS issuance and cancellation books for the purposes of the Demerger Dividend and Share Consolidation(3) | Close of business (New York time) on Thursday 4 December 2025 |
| Latest time and date for transfers of Unilever Shares to be registered in order for the transferee to be registered at the Demerger Record Time | 6:00 p.m. on Friday 5 December 2025 |
| 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 Exchange and the New York Stock Exchange | Monday 8 December 2025 |
| 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 Interests | As soon as possible after 8:00 a.m. (New York time) on Monday 8 December 2025 |
| 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(4) | 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 TMICC Shares as a result of the Demerger | by Monday 22 December 2025 |
| Despatch of certificates for New Unilever Shares | by Tuesday 23 December 2025 |
| Despatch of fractional payments resulting from the sale of aggregated New Unilever Shares as a result of the Share Consolidation | by Tuesday 23 December 2025 |
(1) References to times 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) Publication of the TMICC Prospectuses is subject to TMICC receiving all relevant regulatory approvals for their publication.
(3) The Unilever ADS issuance and cancellation books are expected to be closed for the purposes of the Demerger Dividend and Share Consolidation from the close of business (New York time) on Thursday 4 December 2025. While the Unilever ADS issuance and cancellation books are closed, the issuance and cancellation of Unilever ADSs will be suspended, meaning that during this period it will not be possible to surrender Unilever ADSs and receive underlying Unilever Shares or deposit Unilever Shares and receive Unilever ADSs. However, the closing of the issuance and cancellation books does not have an impact on trading, and Unilever ADS Holders may continue to trade their Unilever ADSs during this period. It is expected that the Unilever ADS issuance and cancellation books will re-open from the open of business (New York time) on Tuesday 9 December 2025.
(4) The Share Consolidation was approved by Unilever Shareholders on 21 October 2025 and is expected to take place on Tuesday 9 December 2025 (or such other date as the Unilever Board may determine).