Business
Court Sanction of the Scheme of Arrangement
Court Sanction of the Scheme of Arrangement.
About this update from Tp Icap Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2473Q\n TP ICAP PLC\n 24 February 2021\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 OR REGULATIONS OF SUCH JURISDICTION.\n \n 24 February 2021\n \n TP ICAP plc\n Corporate Reorganisation - Court Sanction of the Scheme of Arrangement\n On 7 January 2021, TP ICAP plc (TP ICAP) announced the publication of a circular (the Circular) and prospectus in connection with a corporate reorganisation pursuant to which it was proposed that a new ultimate holding company be introduced for the TP ICAP group (the Group). The new ultimate holding company, TP ICAP Group plc, is a company registered in Jersey with company number 130617 (New TP ICAP).\n The Group's new corporate structure is being implemented by means of a scheme of arrangement under Part 26 of the Companies Act 2006 (the Scheme). Pursuant to the Scheme, TP ICAP's existing share capital will be cancelled and TP ICAP Shareholders will receive one New TP ICAP Ordinary Share for each TP ICAP Ordinary Share held immediately before such cancellation.\n Further to the announcement on 1 February 2021 in relation to the results of the Court Meeting and General Meeting, TP ICAP announces that the Court has today made an order sanctioning the Scheme and confirming the associated reduction of capital.\n The Scheme will become effective upon a copy of the Court Order being delivered to the Registrar of Companies in England and Wales, which is expected to take place on 26 February 2021.\n A further announcement will be made when the Scheme becomes effective.\n TP ICAP has requested that the premium listing of its securities on the Official List be cancelled and that its securities cease to be admitted to trading on the London Stock Exchange's main market for listed securities with effect from 8.00 a.m. on 26 February 2021. Admission of the New TP ICAP Ordinary Shares to the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities is expected to take place by no later than 8.00 a.m. on 26 February 2021. The Group understands that New TP ICAP will remain eligible for inclusion in the FTSE UK Index series.\n Capitalised terms used but ...