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Erin Forster

Published 19/06/2025, 07:08
Erin Forster
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GPT: B&M European Value Retail plans to relocate from Luxembourg to Jersey

LONDON - B&M European Value Retail S.A. has announced plans to relocate its corporate domicile from Luxembourg to Jersey, according to a press release issued Thursday. The company has scheduled an Extraordinary General Meeting (EGM) for July 22, 2025, where shareholders will vote on the proposed migration.

If approved, the company will become a Jersey-incorporated entity named "B&M European Value Retail plc" while maintaining its legal personality. The migration is expected to be completed in the second half of 2025, subject to regulatory approvals.

The board has cited several benefits for the proposed change, including simplified corporate structure, greater flexibility for capital returns to shareholders, and elimination of dividend withholding tax. Following the migration, shareholders would be able to hold shares directly through CREST rather than as CDIs (CREST Depository Interests).

B&M plans to retain its London Stock Exchange (LON:LSEG) listing and eligibility for inclusion in the FTSE UK Index. The company’s dividend policy of distributing 40-50 percent of adjusted earnings will remain unchanged, with payments continuing in pounds sterling.

The migration will not trigger any change of control provisions under the group’s existing debt facilities or senior secured notes, according to the company. Additionally, there will be no changes to the composition of B&M’s board, board committees, or executive management team as a result of the migration.

The board has unanimously recommended that shareholders vote in favor of all resolutions at the upcoming EGM.

This article is based on a press release statement from B&M European Value Retail S.A.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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