Shareholders approve Warner Chilcott move

ARDEE, Ireland Warner Chilcott announced Thursday that its shareholders approved an arrangement for the drug maker to move its operations from Bermuda to Ireland.

Assuming receipt of the required approval of the Supreme Court of Bermuda at a hearing to be held on Aug. 14, and the satisfaction of certain other conditions, the transaction will result in Warner Chilcott plc, a newly-formed public limited company organized in and a tax resident of Ireland, becoming the ultimate public holding company of the Warner Chilcott. The company expects that the transaction will be completed on or about Aug. 20.

Following completion of the transaction, shares of the Irish company, Warner Chilcott plc, will begin trading on the NASDAQ Global Market under the symbol "WCRX," the same symbol under which the company's shares currently trade. Warner Chilcott also announced that at the Special Meeting its shareholders approved the creation of distributable reserves of Warner Chilcott plc, subject to the approval of the High Court of Ireland following the completion of the transaction.