Thomson Reuters' board plans to unify its dual listed company structure in interest of shareholders

Businesses' and professionals' information company Thomson Reuters plc (NYSE:TRI) (TSX:TRI) (LSE:TRIL) (NASDAQ:TRIN), board of directors revealed on Tuesday that it plans to unify its dual listed company (DLC) structure in the best interests of all shareholders, consolidating and simplifying its capital structure and therefore improving its share trading.

The board recommends all shareholders to vote for the plan at the shareholder meetings scheduled for 7 August 2009 in Toronto and London. The approval of shareholders of Thomson Reuters Corporation and Thomson Reuters plc, voting separately, as well as the UK court is needed. Once approved, the company will be de-listed on the London Stock Exchange and Nasdaq trading platform, but will remain listed on the Toronto and New York Stock Exchanges.

Thomson Reuters Corporation common shareholders as of 17:00 EDT on 2 July 2009 and Thomson Reuters plc ordinary shareholders as of 18:00 BST on 5 August 2009 will be entitled to vote.

Shareholder's economic interest will remain the same as under the present DLC structure and the unification will not be a taxable transaction for those in Canada, the UK or the US. Thomson Reuters plc shareholders will receive one share in Thomson Reuters Corporation for every plc share held, while holders of Thomson Reuters plc American Depositary Shares will receive six Thomson Reuters Corporation common shares for each ADS. Those holding Thomson Reuters Corporation common shares will undergo no change.

The proposed unification will have no other business, operational or financial impact. The Reuters Trust Principles will continue to apply to all of Thomson Reuters, which reconfirmed its full-year guidance including revenue growth.

In association with the unification, the company may repurchase the equivalent of up to USD500m shares in one or more of its markets.

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