Business
SCHEME OF ARRANGEMENT AND SUSPENSION OF DEALINGS
SCHEME OF ARRANGEMENT AND SUSPENSION OF DEALINGS.
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\n10 December 2024\nRECOMMENDED CASH ACQUISITION\nOF\nMUSICMAGPIE PLC\nBY\nAO LTD\n(a wholly-owned subsidiary of AO World PLC)\nCOURT SANCTION OF SCHEME OF ARRANGEMENT AND SUSPENSION OF DEALINGS\n \nThe boards of directors of AO World PLC (\"AO\") and musicMagpie PLC (\"musicMagpie\") are pleased to announce that the Court has today issued the Court Order sanctioning the scheme of arrangement between musicMagpie and the Scheme Shareholders under Part 26 of the Companies Act (the \"Scheme\") to implement the 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\").\nThe Acquisition is subject to the terms and conditions set out in the scheme document published by musicMagpie on 28 October 2024 (the \"Scheme Document\").\nOn 20 November 2024, the Scheme was approved by the requisite majorities of Scheme Shareholders at the Court Meeting and the Resolutions in connection with the implementation of the Scheme were passed by the requisite majority of musicMagpie Shareholders at the General Meeting. \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.\nNext steps\nThe Scheme remains conditional on, and will become Effective upon, the delivery to the Registrar of Companies of the Court Order, which is expected to occur on 12 December 2024.\nmusicMagpie confirms that the last day of dealings in, and for registrations of transfers of, musicMagpie Shares will be 11 December 2024. The Scheme Record Time and the time at which musicMagpie Shares will be disabled in CREST is 6.00 p.m. on 11 December 2024.\nA request has been made to the London Stock Exchange for admission of the musicMagpie Shares to trading on AIM to be suspended with effect from 7:30 a.m. on 12 December 2024.\nThe cancellation of admission of the musicMagpie Shares to trading on AIM...