Business
Court sanction of Scheme
Court sanction of Scheme.
About this update from Shearwater Group Plc
[{"type":"text","content":"\n RNS Number : 2814S Scott Wilson Group plc 07 September 2010 \n \n\nFOR IMMEDIATE RELEASE\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION \n \n7 September 2010\n \nRecommended proposals for the acquisition of Scott Wilson Group plc by Universe Bidco Limited, a wholly owned subsidiary of URS Corporation \n \n \nCourt sanction of the Scheme of Arrangement\n \nThe boards of directors of Scott Wilson Group plc (\"Scott Wilson\") and URS Corporation (\"URS\") are pleased to announce that at the Court hearing earlier today the Court sanctioned the Scheme to effect the recommended proposals by which the entire issued and to be issued share capital of Scott Wilson will be acquired by Universe Bidco oLimited, a wholly owned subsidiary of URS. \n \nIn order for the Scheme to become effective in accordance with its terms, the Court must now confirm the Capital Reduction at a Court hearing which is scheduled to take place on 9 September 2010. \n \nThe Scheme is expected to become effective on 10 September 2010. Applications have been made to the UK Listing Authority and the London Stock Exchange requesting the suspension of listing of Scott Wilson Shares on the Official List and suspension of dealings in Scott Wilson Shares on the main market of the London Stock Exchange. It is expected that the suspension of listing and dealings in Scott Wilson Shares will take place tomorrow, 8 September 2010, at 5.00 p.m.. Applications have also been made to the UK Listing Authority and the London Stock Exchange requesting the cancellation of the listing of Scott Wilson Shares on the Official List and trading in the Scott Wilson Shares on the main market of the London Stock Exchange. Cancellation is expected to take place at 8.00 a.m. on 10 September 2010. \n \nScott Wilson confirms that valid elections for Loan Notes have been received in excess ofthe minimum threshold of £3 million in aggregate nominal value of all Loan Notes to be issued as set out in the Scheme Document. \n \nCapitalised terms used in this announcement but not defined herein shall have the meaning given to them in the Scheme Document dated 7 July 2010.\n&...