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Metro Bank plc: Court sanctions Scheme of Arr...
Metro Bank plc: Court sanctions Scheme of Arr....
About this update from Metro Bank Holdings Plc
[{"type":"text","content":"\n \n \n \n\n\nMetro Bank plc (MTRO)\n\n\n\n\n\n\nMetro Bank plc: Court sanctions Scheme of Arrangement 17-May-2023 / 17:12 GMT/BST\n\n\n\n Metro Bank PLC (LSE: MTRO LN)\n\n17 May 2023\n\n \n\n \n\nMetro Bank PLC (“Metro Bank”)\n\n \n\nLegal Entity Identifier: 213800X5WU57YL9GPK89\n\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 THAT JURISDICTION. \n\n \n\nCAPITALISED TERMS DEFINED IN THE SCHEME DOCUMENT AND PROSPECTUS HAVE THE SAME MEANING WHEN USED IN THIS ANNOUNCEMENT, UNLESS OTHERWISE DEFINED IN THIS ANNOUNCEMENT.\n\n \n\nProposed introduction of Metro Bank Holdings PLC as a new non-operating bank holding company of the Metro Bank Group which will be effected by means of a scheme of arrangement pursuant to Part 26 of the Companies Act 2006 and admission to the premium listing segment of the Official List and to trading on the main market of the London Stock Exchange.\n\n \n\nCourt sanctions Scheme of Arrangement\n\n \n\nMetro Bank is pleased to announce that the Court sanctioned the Scheme at a hearing today. The Scheme will become effective upon delivery of the Court Order to the Registrar of Companies, which is expected to take place after 6:30 p.m. on 19 May 2023 and will result in Metro Bank Holdings PLC becoming the new holding company of Metro Bank and its subsidiaries.\n\n \n\nThe last day of dealings in, and for registration of transfers of, Metro Bank shares will be, 19 May 2023. No transfers of Old MB Shares will be registered after 6.30 p.m. on 19 May 2023.\n\n \n\nFollowing the Scheme becoming effective, Scheme Shareholders on the register at the Scheme Record Time, being 6.30 p.m. on 19 May 2023, will receive one New MB Share for each Old MB Share held.\n\n \n\nIt is expected that the New MB Shares will be admitted to the premium listing segment of the Official List and to trading on the London Stock Exchange’s main market for listed securities at 8.00 a.m. on 22 May 2023. The listing of the Old MB Shares on the Official List of the Financial Conduct Authority is expected to be cancelled at 8.00 a.m. on 22 May 2023.\n\nAll references to times in this Announ...