Business
Results of Court Meeting and General Meeting
Results of Court Meeting and General Meeting.
About this update from Ao World Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\nFOR IMMEDIATE RELEASE\n20 November 2024\nRECOMMENDED CASH ACQUISITION\nOF\nMUSICMAGPIE PLC\nBY\nAO LTD\n(a wholly-owned subsidiary of AO World PLC)\n(to be implemented by way of a scheme of arrangement under Part 26 of the Companies Act 2006)\nResults of the Court Meeting and the General Meeting\n \nOn 2 October 2024, the boards of directors of AO World PLC (\"AO\") and musicMagpie PLC (\"musicMagpie\") announced that they had agreed the terms of a recommended cash acquisition of the entire issued and to be issued share capital of musicMagpie by AO Ltd (\"AO Bidco\"), a wholly-owned subsidiary of AO (the \"Acquisition\").The Acquisition is to be implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act (the \"Scheme\"). On 28 October 2024, musicMagpie published a circular in relation to the Scheme (the \"Scheme Document\") containing, amongst other things, the full terms and conditions of the Acquisition.\nCapitalised terms used in this announcement shall, unless otherwise defined, have the same meanings as set out in the Scheme Document. All references to times in this announcement are to London time unless stated otherwise.\nThe Board of musicMagpie is pleased to announce that, at the Court Meeting and General Meeting (together, the \"Meetings\") each held earlier today:\n· the requisite majority of Scheme Shareholders voted (either in person or by proxy) to approve the Scheme at the Court Meeting; and\n \n· the requisite majority of musicMagpie Shareholders voted (either in person or by proxy) to pass the Resolutions in connection with the implementation of the Scheme, including the amendment of musicMagpie's articles of association, at the General Meeting.\n \nFull details of the resolutions passed are set out in the notice of the Court Meeting and the notice of the General Meeting of musicMagpie contained in Parts VIII and IX of the Scheme Document, respectively.\nVoting results of the Court Meeting\nThe Court Meeting sought approval from holders of Scheme Sha...