Accenture Announces Proposed Change of Incorporation to Ireland
NEW YORK.– Accenture (NYSE: ACN) announced today that its Board of Directors has unanimously approved changing the company’s place of incorporation to Ireland from Bermuda. Accenture’s shareholders will be asked to vote in favor of the proposed move at shareholder meetings expected to be held on a date within the next three to four months.
William D. Green, Accenture’s chairman & CEO, said, “After a careful review, our Board of Directors has determined that changing our place of incorporation to Ireland is in the best interests of Accenture and our shareholders. We believe that incorporating in Ireland will provide Accenture with economic benefits and help ensure our continued global competitiveness.
“A member of the European Union, Ireland offers a sophisticated, well-developed corporate, legal and regulatory environment. It also has a long history of international investment and long-established commercial relationships, trade agreements and tax treaties with European Union member states, the United States and other countries around the world where Accenture does business. In addition, Ireland offers a stable political and economic environment and has the financial and legal infrastructure to meet Accenture’s needs, both today and in the future.”
Accenture has offices in 52 countries and serves clients in more than 120 countries around the world. Ireland is part of the company’s largest geographic region, Europe/Middle East/Africa (EMEA), which accounts for nearly half of Accenture’s total net revenues, is home to many of the company’s largest clients and represents a significant business opportunity for the company. Accenture has a 40-year history as an employer and provider of services in Ireland. Today the company serves a wide range of clients in the country, including the Irish government, and has significant operations and a substantial presence there that has grown rapidly in recent years.
Accenture does not expect any material change in its operations, financial results or tax treatment as a result of the change in its place of incorporation. The company will continue to be registered with the U.S. Securities and Exchange Commission (SEC) and be subject to the same SEC reporting requirements as it is today. Accenture’s shares will continue to trade on the New York Stock Exchange under the ticker symbol “ACN.”
If conditions of the proposed transaction are satisfied, including approval by Accenture’s shareholders and the Supreme Court of Bermuda, Accenture plc, an Irish company, will replace Accenture Ltd as Accenture’s parent company. Accenture expects the move to take effect shortly after shareholder approval.
This communication is being made in respect of the proposed transaction. In connection with the transaction, Accenture intends to file a preliminary proxy statement today with the SEC and mail a final proxy statement to its shareholders. Shareholders are urged to read such proxy statement when it becomes available because it will contain important information. The proxy statement will be, and other documents filed or to be filed by Accenture with the SEC are or will be, available free of charge at the SEC’s website (www.sec.gov) and at Accenture’s website (www.accenture.com).
Accenture and its directors and executive officers and other persons may be deemed participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the Accenture shareholders in connection with the transaction will be set forth in the proxy statement when it is filed with the SEC. You can find information about Accenture’s directors and executive officers in the definitive proxy statement filed on Dec. 19, 2008. You can obtain free copies of these documents from Accenture on Accenture’s website at www.accenture.com.
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