Business
Publication of combined circular and prospectus
Publication of combined circular and prospectus.
About this update from Braemar Plc
[{"type":"text","content":"\n \nRNS Number : 5168J Braemar Shipping Services PLC 12 June 2014 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \n12 June 2014\n \nFOR IMMEDIATE RELEASE\n \nRECOMMENDED MERGER OF\n \nBRAEMAR SHIPPING SERVICES PLC (\"BRAEMAR\")\n \nand\n \nACM SHIPPING GROUP PLC (\"ACM\")\n \nto be effected by means of a Scheme of Arrangement\nunder Part 26 of the Companies Act 2006\n \nPublication of combined circular and prospectus\n \nOn 20 May 2014, the boards of directors of Braemar and ACM announced that they had reached agreement on the terms of a recommended merger pursuant to which Braemar will acquire the entire issued and to be issued ordinary share capital of ACM. The Merger is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006.\n \nFurther to that announcement, Braemar is pleased to announce that the combined circular and prospectus published in connection with the Merger has been approved by the UK Listing Authority and is being made available to shareholders of Braemar (\"Braemar Shareholders\") and to shareholders of ACM (\"ACM Shareholders\") today.\n \nBraemar Shareholders and ACM Shareholders will shortly receive, amongst other documents, a copy of the combined circular and prospectus. This contains, amongst other things, the background to and reasons for the Proposals, details of the New Ordinary Shares, the full terms and conditions of the Merger, expected timetable of principal events, the notice of the Braemar General Meeting and details of the actions to be taken by the Braemar Shareholders. Braemar Shareholders should carefully read the combined circular and prospectus in its entirety before making a decision with respect to the Resolutions and the Merger. As set out in the combined circular and prospectus, the Braemar General Meeting will be held on 4 July 2014 at 11.15 a.m. (or as soon thereafter as the Braemar Annual General Meeting shall have been concluded or adjourned) at the offices of Buchanan Communications at 107 Cheapside, London, EC2V 6DN to allow Braemar Shareholders to vote on the resolutions required to approve and implement the Merger and related matters.\n&nb...