RWE to Proceed With Preferred Share Delisting
June 28 2019 - 8:58AM
Dow Jones News
By Sarah Sloat
German energy company RWE AG (RWE.XE) is moving ahead with the
delisting of its 39 million preferred shares, which are being
converted as planned into common shares with voting rights.
The measure satisfies a call by institutional shareholders that
every share in a company be assigned one vote, according to the
"one share, one vote" principle, and simplifies the company's
capital structure, RWE said.
With the one-for-one conversion, the number of RWE common shares
will increase to 614.7 million.
The move was approved at the company's shareholder meeting last
month.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
June 28, 2019 09:43 ET (13:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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