HILVERSUM, Netherlands, Jan. 15, 2025 /PRNewswire/ -- Further to UMG's statement of 9 November 2024, UMG announced today that Pershing Square (together with certain of its affiliates, "Pershing") has exercised its right under the previously disclosed Registration Rights Agreement between UMG and Pershing to request an offering and secondary listing of UMG in the U.S. Pershing has waived the 120-day filing requirement and, in line with its contractual obligations, UMG will use commercially reasonable efforts to launch an underwritten offering for the sale of certain shares owned by Pershing by September 15, 2025, subject to regulatory approval and market conditions. Any actions or decisions of UMG beyond those necessary to comply with its contractual obligations under the Registration Rights Agreement will be determined by the Board of Directors of UMG based on an analysis taking into account what is value maximizing and in the best interests of all the shareholders of UMG.

Logo - https://mma.prnewswire.com/media/512308/UMG.jpg

View original content:https://www.prnewswire.co.uk/news-releases/statement-from-universal-music-group-nv-302352382.html

Images

Tags

More Like This

Statement From Universal Music Group N.V.

Universal Music Group N.V. Board of Directors Declines Unsolicited Pershing Square Proposal

Universal Music Group N.V. Confirms Receipt of Unsolicited Proposal

Universal Music Group Confidentially Submits Draft Registration Statement for a Proposed U.S. Public Offering

Universal Music Group N.V. Announces Repurchase of 14.156 million of its Ordinary Shares from Pershing Square Funds

Universal Music Group N.V. Announces Results of its 2025 Annual General Meeting of Shareholders

Universal Music Group N.V. Announces Results of its 2024 Annual General Meeting of Shareholders

Universal Music Group N.V. successfully prices €1.0bn of new Eurobond Notes