Business
Circ re. New HoldCo and change of listing category
Circ re. New HoldCo and change of listing category.
About this update from Pollen Street Group Limited
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT 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 SUCH JURISDICTION\nTHIS IS AN ANNOUNCEMENT, IS FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS OR EQUIVALENT DOCUMENT. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE CONSTRUED AS, ANY OFFER, INVITATION OR RECOMMENDATION TO PURCHASE, SELL OR SUBSCRIBE FOR ANY SECURITIES IN ANY JURISDICTION AND NEITHER THE ISSUE OF THE INFORMATION NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF OR BE RELIED UPON IN CONNECTION WITH, OR ACT AS AN INDUCEMENT TO ENTER INTO, ANY INVESTMENT ACTIVITY\nFOR IMMEDIATE RELEASE\n18 September 2023\nProposed introduction of Pollen Street Group Limited (\"New Holdco\") as a new holding company of Pollen Street Plc by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006 (the \"Scheme\"), proposed change of listing category resulting in shareholders receiving premium segment (commercial company) shares in New HoldCo and proposed reduction of share premium reserve of Pollen Street Plc\nPollen Street Plc (\"Pollen Street\")\nPublication of Circular\nPollen Street has today published a circular in connection with: (i) its proposed introduction of New Holdco as a new holding company above Pollen Street by means of a scheme of arrangement under Part 26 of the Companies Act 2006; (ii) the proposed change of listing category that will result in shareholders of Pollen Street receiving premium segment (commercial company) shares in New HoldCo in place of their premium segment (closed-ended investment fund) shares in Pollen Street; and (iii) the proposed reduction of the share premium reserve of Pollen Street (the \"Circular\").\nThe Circular has been approved by the Financial Conduct Authority (the \"FCA\") and is available at www.pollenstreetgroup.com/shareholders and includes full details of the Scheme, the Change of Listing (as defined below) and of the Reduction of Share Premium Reserve (as defined below), together with an explanatory statement and the notices convening the Court Meeting and the General Meeting. The Circular also contains the expected timetable of principal events for the implementation of the Scheme and the other matt...