Business
Result of Belvoir Court Meeting and GM, Timetable
Result of Belvoir Court Meeting and GM, Timetable.
About this update from Property Franchise Group 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 OR REGULATIONS OF SUCH JURISDICTION\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\n \n15 February 2024\n \nRECOMMENDED ALL-SHARE MERGER\n \nOF\n \nBELVOIR GROUP PLC\n \nAND\n \nTHE PROPERTY FRANCHISE GROUP PLC\n \nto be implemented by means of a scheme of arrangement pursuant to Part 26 of the Companies Act 2006 (the \"Act\")\n\nRESULTS OF BELVOIR COURT MEETING AND GENERAL MEETING\nAND\nUPDATED TIMETABLE OF PRINCIPAL EVENTS\nIntroduction\nOn 10 January 2024, the boards of Belvoir Group PLC (\"Belvoir\") and The Property Franchise Group PLC (\"TPFG\") announced that they had reached agreement on the terms of a recommended all-share merger of TPFG and Belvoir (\"Merger\"). The Merger is to be implemented by means of a scheme of arrangement under Part 26 of the Act (\"Scheme\"). A circular in relation to the Scheme was published by Belvoir on 24 January 2024 (\"Scheme Document\").\nThe Belvoir Board is pleased to announce that at the Court Meeting and the General Meeting, each convened in relation to the proposed Scheme and held earlier today:\n· the requisite majority in number of the Voting Scheme Shareholders who voted (either in person or by proxy), representing not less than 75 per cent. in value of the Voting Scheme Shares held by Voting Scheme Shareholders who voted, voted in favour of the resolution to approve the Scheme at the Court Meeting; and\n· the requisite majority of Belvoir Shareholders voted to pass the special resolution at the General Meeting to approve the implementation of the Scheme and the adoption of amended articles of association for Belvoir,\nand accordingly the Scheme was approved.\nCapitalised terms in this announcement, unless otherwise defined, have the same meaning as set out in the Scheme Document.\nDetails of the resolutions passed are set out in the notices of the Court Meeting and the General Meeting at Parts VIII and IX (respectively) of the Scheme Document, which is available (subject to certain restrictions relating to persons in Restricted Jurisdictions) on Belvoir's websi...