The next major Corporate Evolution is the proposed move of the ultimate holding company from the UK to Belgium. As we outlined at our Investor Day, this is a prudent move to manage possible geopolitical and regulatory risks related to Brexit. There will be no impact on our day-to-day operations in the UK or to jobs as a result of the reorganisation.
We have established Euroclear Holding SA to become the new holding company for the Group. It is based in Belgium, the location of the majority of our business operations.
The proposed reorganisation will be conducted via a UK Transfer Scheme of Arrangement, subject of course to shareholder and regulatory approvals. The vote requires a majority by number of shareholders voting and at least 75% in value. The voting process will be similar to a general meeting, and you will be able to submit proxy votes via email.
We have highlighted the key steps and timing in the process below: