Lilly Announces Voluntary Delisting from Euronext Paris

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Oct 03, 2019, 09:25 ET

INDIANAPOLIS, Oct. 3, 2019 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) announced today that it has requested the delisting of its shares (ISIN US5324571083) ("Lilly Shares") from Euronext Paris due to the very low trading volume, costs and administrative requirements related to its secondary listing on Euronext Paris. The Board of Directors of Euronext Paris S.A. has approved this request.

Following the delisting from Euronext Paris, Lilly Shares will remain listed on the New York Stock Exchange (NYSE), Lilly's primary listing exchange.

A voluntary sales facility procedure on the NYSE will be provided by Lilly to its shareholders holding their Lilly Shares under Euroclear France ("Euronext Shareholders") during which such Euronext Shareholders will have the following options:

decide not to participate in the voluntary sales facility and keep their Lilly Shares which they will be able to trade on Euronext Paris through and including the trading day prior to the delisting date and only on the NYSE thereafter; or
participate in the voluntary sales facility described below and sell all or part of their Lilly Shares on the NYSE.

Euronext Shareholders Not Participating
Euronext Shareholders who do not wish to sell their Lilly Shares under the sales facility, or otherwise have taken no action to tender their Lilly Shares in the sales facility, will be able to trade their Lilly Shares only on the NYSE following the delisting date. Any such trade will be subject to the terms applied by their financial intermediary who will take the necessary steps to move their Lilly Shares from Euroclear France to the relevant alternative central system for depositary.

Participating Euronext Shareholders
Euronext Shareholders who wish to sell their Lilly Shares on the NYSE under the sales facility should request their financial intermediaries to deliver their Lilly Shares from October 7, 2019 to October 18, 2019 included, to BNP Paribas Securities Services, acting as centralizing agent, pursuant to the procedure described in the applicable Euronext notice expected to be published on October 3, 2019.

The Lilly Shares delivered to BNP Paribas Securities Services will be sold on the NYSE beginning on October 23, 2019 by a broker, at market prices prevailing at the time of the sale.

BNP Paribas Securities Services will calculate the average sale price of the Lilly Shares and will be in charge of transferring the sale proceeds to the participating Euronext Shareholders.

Lilly will pay the fees for the centralization and the brokerage fee related to the sale on the NYSE of the Lilly Shares delivered to BNP Paribas Securities Services as part of the sales facility.

Euronext Shareholders are reminded that they may tender their Lilly Shares in the sales facility on a voluntary basis.

No guarantee can be given by Lilly or by BNP Paribas Securities Services as to the price at which the Lilly Shares will actually be sold on the NYSE. This process is being provided solely as an accommodation to Euronext Shareholders. Individual investors may determine not to participate in this process or may decide not to take any action in which case no guarantee can be given on the terms applied by their financial intermediary after the delisting. Individual investors are urged to consult their own investment advisors before making a decision to participate or not in this process.

The calendar of the sales facility and the delisting described above can be summarized as follows (it being specified that Lilly reserves the right to amend this calendar):

Sales Facility
Commencement of the sales facility procedure	10/07/2019
Closing of the sales facility procedure	10/18/2019
End of the centralization by BNP Paribas Securities Services	10/23/2019 (before 4 p.m. Paris time)
Sale of Lilly Shares tendered to the sales facility procedure on the NYSE	Beginning on 10/23/2019
Proceeds of sale in USD converted into Euros	As soon as possible after receipt of proceeds of the sale
Settlement of sale proceeds to relevant financial institutions	As soon as possible after receipt of proceeds of the sale

Delisting
Last day of trading of Lilly Shares on Euronext Paris	10/30/2019
Delisting of Lilly Shares from Euronext Paris	10/31/2019

Euronext Shareholders participating in the sales facility procedure (i) acknowledge and agree to

assume the risks associated with changes in the market price of Lilly Shares and currency exchange rates that may occur between the time Lilly Shares are delivered to BNP Paribas Securities Services and the sale of such Lilly Shares on the NYSE, and (ii) acknowledge and accept that from the time their Lilly Shares are delivered to BNP Paribas Securities Services, they will not be entitled to any subsequent dividend declared by the board of directors of Lilly. All tender instruction of Lilly Shares under the sales facility are irrevocable.

Lilly Shares will be delisted from Euronext Paris on October 31, 2019.

Lilly Shares will continue to be listed on the NYSE under the symbol "LLY".

Shareholders are invited to contact their financial intermediaries for any additional information.

About Eli Lilly and Company
Lilly is a global healthcare leader that unites caring with discovery to create medicines that make life better for people around the world. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism. To learn more about Lilly, please visit us at www.lilly.com. F-LLY