Business
Scheme becomes Effective
Scheme becomes Effective.
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 \n23 June 2025\n \nRECOMMENDED CASH AND SHARE ACQUISITION\n \nof\n \nURBAN LOGISTICS REIT PLC (\"URBAN LOGISTICS\")\n \nby\n \nLONDONMETRIC PROPERTY PLC (\"LONDONMETRIC\")\n \n \nScheme becomes Effective\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 \nFurther to the announcement made by Urban Logistics on 20 June 2025 confirming that the Court had sanctioned the Scheme (the \"Sanction Announcement\"), the Boards of Urban Logistics and LondonMetric are pleased to announce that, following the delivery earlier today of a copy of the Court Order to the Registrar of Companies, the Scheme has today become Effective in accordance with its terms and the entire issued and to be issued ordinary share capital of Urban Logistics is now owned by LondonMetric. As a result, Urban Logistics is no longer in an \"Offer Period\" as defined in the Code and accordingly t...