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SCHEME OF ARRANGEMENT EFFECTIVE
SCHEME OF ARRANGEMENT EFFECTIVE.
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 \n7 March 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\nSCHEME OF ARRANGEMENT EFFECTIVE\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\").\nCapitalised terms in this announcement, unless otherwise defined, have the same meaning as set out in the Scheme Document.\nOn 15 February 2024, the Voting Scheme Shareholders and the Belvoir Shareholders approved the Scheme and certain matters relating to its implementation at, respectively, the Court Meeting and the General Meeting. On 6 March 2024, Belvoir announced that the High Court of Justice had sanctioned the Scheme at the Court Sanction Hearing held earlier on the same date.\nBelvoir is pleased to announce that following the delivery of a copy of the Court Order (together with a copy of the Scheme and all documents required to be annexed thereto) to the Registrar of Companies today, the Scheme has now become Effective in accordance with its terms.\nSuspension and cancellation of trading of Belvoir Shares on the AIM market\nAs previously announced, dealings in Belvoir Shares were suspended with effect from 7.30 a.m. this morning, 7 March 2024. As a result of the Scheme having become Effective, share certificates in respect of Scheme Shares will cease to be valid documents of title and entitlements to Scheme Shares held in uncertificated form in CREST are being cancelled.\nAn application has been made for the cancellation of the admission to trading of Bel...