Business
Court Sanction of Scheme and Suspension of Dealing
Court Sanction of Scheme and Suspension of Dealing.
About this update from Cavendish 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\nFOR IMMEDIATE RELEASE\n5 September 2023\nRECOMMENDED ALL-SHARE MERGER\nof\nCenkos SECURITIES PLC\nand\nfinncap GROUP PLC\nto be effected by way of a scheme of arrangement under Part 26 of the Companies Act 2006\nCOURT SANCTION OF SCHEME OF ARRANGEMENT AND SUSPENSION OF dEALINGS\nOn 23 March 2023, the board of Cenkos Securities plc (\"Cenkos\") and the board of finnCap Group plc (\"finnCap\") announced that they had reached agreement on the terms and conditions of a recommended all-share merger between Cenkos and finnCap (the \"Merger\"), to be effected by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the \"Scheme\"). The circular in relation to the Scheme was published on 20 April 2023 (the \"Scheme Document\").\n \nSanction of the Scheme\n \nThe boards of Cenkos and finnCap are pleased to announce that the High Court of Justice in England and Wales has today made an order sanctioning the Scheme pursuant to which the Merger is being implemented.\n \nThe Scheme will become Effective upon the delivery of a copy of the Court Order to the Registrar of Companies, which is expected to occur on 7 September 2023. There has been no change to the expected timetable of principal events for the Merger set out in the announcement made by Cenkos on 24 July 2023.\n \nNext steps\n \nCenkos confirms that the last day of dealings in, and for registration of transfers of, and disablement of Cenkos Shares in CREST will be 6 September 2023 and the Scheme Record Time will be 6.00 pm on 6 September 2023. Scheme Shareholders on Cenkos' register of members at the Scheme Record Time will, upon the Scheme becoming Effective, be entitled to receive the Consideration Shares under the Scheme.\n \nDealings in Cenkos Shares on AIM will be suspended from 7.30 am on 7 September 2023. The suspension is made pursuant to Cenkos' application to the London Stock Exchange and is being effected as part of the Scheme.\n \nIt is expected that, subject to the Scheme becoming Effective on 7 September 2023, the cancellation of admission to trading of Cenkos Shares on AI...