RELX To Complete Simplification Of Corporate Structure On July 1

(RTTNews) - RELX Group (REL.L, RUK, ENL ) Tuesday said it would complete the simplification of its corporate structure and name changes announced in February, and approved at the Annual General Meetings of the parent companies in April.

The steps being implemented on July 1 include Reed Elsevier PLC and Reed Elsevier NV formally changing their names to RELX PLC and RELX NV, respectively. The Reed Elsevier NV R shares, through which Reed Elsevier PLC holds a 5.8 percent indirect interest in Reed Elsevier NV, will be canceled.

The equalization ratio between the RELX PLC and RELX NV shares will be changed to 1:1 by way of a bonus issue of 0.538 new RELX NV shares for each existing RELX NV ordinary share held.

The RELX PLC and RELX NV ADRs on the New York Stock Exchange will each represent one RELX PLC or one RELX NV ordinary share respectively, instead of the current 4 to 1 and 2 to 1 ratios. The effective date of the new ADR ratios is also July 1.