Business
Court Sanction of Scheme of Arrangement
Court Sanction of Scheme of Arrangement.
About this update from Londonmetric Property 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 OF SUCH JURISDICTION.\nFOR IMMEDIATE RELEASE \n \n20 June 2025\n \n \nRECOMMENDED CASH AND SHARE ACQUISITION\n \nof\n \nURBAN LOGISTICS REIT PLC (\"URBAN LOGISTICS\")\n \nby\n \nLONDONMETRIC PROPERTY PLC (\"LONDONMETRIC\")\n \n \nCourt Sanction of Scheme of Arrangement and Suspension of Dealings\n \nOn 9 May 2025, the boards of Urban Logistics and LondonMetric announced that they had reached agreement on the terms of a recommended cash and share offer pursuant to which LondonMetric would acquire the entire issued and to be issued ordinary share capital of Urban Logistics (the \"Acquisition\" forming the \"Combined Group\"). The Acquisition is being implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the \"Scheme\"), full details of which were sent to Urban Logistics Shareholders in the circular dated 23 May 2025 (the \"Scheme Document\").\n \nCapitalised terms used and not defined in this announcement have the meanings given to them in the Scheme Document. All references to times are to times in London unless otherwise stated.\n \nCourt Sanction of the Scheme\n \nFurther to the announcement made by Urban Logistics on 13 June 2025 in relation to the passing of the resolutions at the Court Meeting and the General Meeting, Urban Logistics is pleased to announce that the Court has today issued the Court Order sanctioning the Scheme pursuant to which the Acquisition is being implemented.\n \nAll of the Conditions of the Acquisition (as set out in Part 4 of the Scheme Document (Conditions and Certain Further Terms of the Acquisition)) have been satisfied or waived other than t...