UK shareholders could be affected following the merger of two US organisations, Tyco International and Johnson Controls, which will become Johnsons Control PLA in October 2016.
The Tyco name will disappear entirely and a spin-off of the companies is expected in 2017, which will see Adient stock being offered to shareholders. There are likely to be a number of UK citizens who hold shares in Tyco due to its link with British companies including Hawley Group and ADT, both of whom merged with Tyco a number of years ago.
As a result of this new merger, stock certificates for the founding companies may be invalid after October 2016. If you or your clients currently hold Tyco stock, you may want to consider your options prior to the merger.
Simon Barber, Operations Manager at Title Research, commented:
“We expect that there will be many people across the UK who do not realise that their Hawley or ADT shares are now traded on the US stock market under Tyco International. If shares are traded on the US stock market, a different process must be followed when trying to sell or transfer them. One thing you might need to consider is getting a Medallion Signature Guarantee (MSG) stamp, which acts as an effective way of protecting against liability and fraud. Title Research are one of the only two companies in the UK who has an in-house MSG stamp, with a limit of $750,000 – around three times more than any other UK firm who has access to a stamp. This means that we can process any documents within 24-48 hours, rather than the 2-3 weeks it normally takes when using a US based firm.”
For further information on our MSG service or to start your application now, please contact our Asset Valuation and Transfer team on 0345 87 27 600 or visit www.titleresearch.com.
Topics: Share Sales, Mergers, US Shareholdings
