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HIGH COURT APPROVES SCHEME OF ARRANGEMENT
HIGH COURT APPROVES SCHEME OF ARRANGEMENT.
About this update from Osb Group Plc
[{"type":"text","content":"\n \n \n HIGH COURT APPROVES SCHEME OF ARRANGEMENT\n \n \n \n \n NOT 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 THAT JURISDICTION.\n \n \n CAPITALISED TERMS DEFINED IN THE SCHEME DOCUMENT DATED 9 OCTOBER 2020 HAVE THE SAME MEANING WHEN USED IN THIS ANNOUNCEMENT, UNLESS OTHERWISE DEFINED IN THIS ANNOUNCEMENT. \n \n \n FOR IMMEDIATE RELEASE\n \n 27 November 2020\n \n Proposed introduction of OSB GROUP PLC (“New OSB”) as a new holding company of the OSB Group by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006 (the “Scheme”) and New OSB’s 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 HIGH COURT APPROVES SCHEME OF ARRANGEMENT\n \n OneSavings Bank plc (“OSB”) 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 around 5.00 p.m. today and will result in New OSB becoming the new holding company of OSB and its subsidiaries.\n The last day of dealings in, and for registration of transfers of, Old OSB Shares will be today, 27 November 2020. No transfers of Old OSB Shares will be registered after 6.00 p.m. today.\n Following the Scheme becoming effective, Scheme Shareholders on the register at the Scheme Record Time, being 6.00 p.m. on 27 November 2020, will receive one New OSB Share for each Old OSB Share held.\n It is expected that New OSB 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 30 November 2020. The listing of Old OSB Shares on the Official List of the Financial Conduct Authority is expected to be cancelled at 8.00 a.m. on 30 November 2020.\n All references to times in this Announcement are to London time, unless otherwise stated.\n \n Enquiries\n \n For further information, please contact the following:\n \n OneSavings Bank plc\n \n Alastair Pate, Group Head of Investor Relations &nbs...