Core Points - Lassila & Tikanoja plc has completed a partial demerger, with trading in New Lassila & Tikanoja's shares expected to start on 2 January 2026 [1][4] - The demerger involves transferring all assets, debts, and liabilities related to the circular economy business to New Lassila & Tikanoja, while the existing company will be renamed Luotea Plc [1][2] - Shareholders will receive one new share in New Lassila & Tikanoja for each share they own in Lassila & Tikanoja, totaling approximately 38,211,724 shares to be issued [2][3] Company Structure Changes - The share capital of Lassila & Tikanoja will decrease from EUR 19,399,437.00 to EUR 1,000,000.00 as part of the demerger [5] - The new ISIN code for shares in New Lassila & Tikanoja will be FI4000592472, while Luotea Plc will have the ISIN code FI4000592464 [4] Trading and Settlement - Trades in Lassila & Tikanoja shares made on 30 December 2025 will entitle investors to receive shares in both Luotea and New Lassila & Tikanoja at settlement [3] - The listing application for New Lassila & Tikanoja has been filed with Nasdaq Helsinki, and trading is set to commence under the code "LASTIK" [4]

Core Viewpoint - The demerger of The Magnum Ice Cream Company (TMICC) from Unilever allows direct investment in popular ice cream brands, with TMICC valued at €7.8 billion ($9.1 billion) upon its debut on the stock market [2][3]. Company Overview - TMICC includes well-known brands such as Magnum, Cornetto, and Ben & Jerry's, and has been positioned as the world's largest ice cream producer [3]. - The company is not expected to qualify for major indices like the FTSE 100, which may lead to initial selling pressure from tracker funds [5]. Financial Insights - TMICC's valuation is competitive, being worth slightly more than Froneri, which holds an 11% market share in the $87 billion global ice cream market compared to TMICC's 21% [6]. - The absence of dividends in 2026 may deter some investors, impacting short-term share price prospects [5]. Growth Prospects - The CEO targets medium-term organic annual sales growth of 3%-5%, aligning with the long-term average achieved under Unilever [8]. - TMICC may have opportunities to enhance its supply chain investments, which were previously neglected under Unilever's broader portfolio [8]. Management and Governance - The management team, primarily composed of former Unilever employees, is expected to improve operational performance, although challenges remain, particularly with the Ben & Jerry's brand [9]. - Recent governance issues at Ben & Jerry's have raised concerns, with the CEO indicating potential changes in charitable contributions unless corporate governance issues are resolved [12]. Market Reactions - Unilever's stock rose by 3.6% following the debut of TMICC, indicating positive market sentiment towards the spin-off [32]. - The demerger is seen as a significant restructuring for Unilever, potentially leading to a re-rating of the company's market value as it focuses on its core brands [19][20].

Core Viewpoint - The Magnum Ice Cream Company N.V. (TMICC) has announced the approval and publication of its prospectus for the admission of its ordinary shares to trading on Euronext Amsterdam and the London Stock Exchange, following its planned demerger from Unilever PLC [1][4]. Group 1: Admission and Prospectus - The prospectus has been approved by the Dutch Authority for the Financial Markets and the UK Financial Conduct Authority [1][3]. - TMICC's ordinary shares are set to be listed and traded on Euronext Amsterdam and the London Stock Exchange, with the admission expected to occur on December 8, 2025 [1][4]. Group 2: Demerger Details - The demerger from Unilever is anticipated to be completed on December 6, 2025, with key dates outlined in the prospectus [4][5]. - The latest time for transfers of Unilever shares to be registered is set for December 5, 2025, at 6:00 p.m. London time [6][8]. Group 3: Financial Performance - TMICC is recognized as the world's largest ice cream company, generating €7.9 billion in revenue in 2024 [12].