Business
Adjournment of Court Meeting and General Meeting
Adjournment of Court Meeting and General Meeting.
About this update from Tribal 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\nFOR IMMEDIATE RELEASE\n \n \n24 November 2023\nRECOMMENDED CASH ACQUISITION\nof\nTribal Group Plc\nby\nTiger Bidco 1 Ltd\n(a newly formed company indirectly owned by Ellucian Company, L.P.)\nto be implemented by means of a Scheme of Arrangement\nunder Part 26 of the Companies Act 2006\n \nAdjournment of Court Meeting and General Meeting\n \nOn 5 October 2023, the boards of Tiger Bidco 1 Ltd (\"Bidco\") and Tribal Group plc (\"Tribal\") announced that they had reached agreement on the terms of a recommended cash offer to be made by Bidco to acquire the entire issued and to be issued share capital of Tribal (the \"Acquisition\"). The Acquisition is intended to be implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the \"Scheme\").\nOn 1 November 2023, Tribal published and posted a circular to Tribal Shareholders (the \"Scheme Document\"), setting out, amongst other things, the background to, the terms of, and the reasons for the Tribal Board recommending, the Acquisition. The Scheme Document also contained, amongst other things, the Scheme and notices of the Court Meeting and the General Meeting.\nAdjournment of Court Meeting and General Meeting\nFollowing feedback received from Tribal shareholders in connection with the Scheme, and with the support of Ellucian, the Tribal Directors intend to adjourn the Court Meeting and General Meeting which were originally convened for 27 November 2023. Accordingly, the Tribal Directors recommend that Tribal Shareholders do not attend the Court Meeting and the General Meeting on 27 November 2023.\nNotices of the Court Meeting and the General Meeting are contained in Part 9 and Part 10 respectively of the Scheme Document.\nThe Tribal Board intends to adjourn the Court Meeting and the General Meeting so as to instead be held on 11 December 2023 at 12.00 p.m. and 12.15 p.m. (or as soon thereafter as the Court Meeting concludes or is further adjourned), respectively, at the offices of Investec Bank plc, 30 Gresham Street, London EC2V 7QP. Forms of Proxy in respect of the adjourned Court Meeting and ...