Business
Scheme Effective
The scheme of arrangement for the recommended cash and share acquisition of Empiric Student Property PLC by The Unite Group PLC has become effective, with Unite now owning Empiric's entire share capital. Empiric shareholders on record as of January 27, 2026, are entitled to receive 0.085 New Unite Shares and 30.725 pence in cash per Empiric Share, reflecting a reduction in cash consideration due to Empiric's dividends. Trading of Empiric shares on the London Stock Exchange was suspended today and is expected to be cancelled by January 29, 2026, with the admission of new Unite Shares to trading anticipated tomorrow. All Empiric directors have resigned as of today's date. Disclaimer*
About this update from Unite Group Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.\nFOR IMMEDIATE RELEASE\n\n28 January 2026\nRECOMMENDED CASH AND SHARE ACQUISITION\nof\nEMPIRIC STUDENT PROPERTY PLC (\"EMPIRIC\")\nby\nTHE UNITE GROUP PLC (\"UNITE\")\nby means of a Court-sanctioned scheme of arrangement\nunder Part 26 of the Companies Act 2006\n \nScheme Effective\nFurther to the announcement made by Empiric on 26 January 2026 confirming that the Court had sanctioned the Scheme, the boards of Empiric and Unite are pleased to announce that, following delivery of a copy of the Court Order to the Registrar of Companies today for registration, the scheme of arrangement between Empiric and the Scheme Shareholders under Part 26 of the Companies Act 2006 (the \"Scheme\") to implement the recommended cash and share offer pursuant to which Unite would acquire the entire issued and to be issued ordinary share capital of Empiric (the \"Acquisition\") has now become Effective and, pursuant to the Scheme, the entire issued and to be issued share capital of Empiric is now owned by Unite. It is intended that Empiric shall, shortly after the date of this announcement, be re-registered as a private limited company.\nFull details of the Acquisition are set out in the scheme document published on 9 September 2025 (the \"Scheme Document\"). Unless otherwise defined, all capitalised terms in this announcement have the meaning given to them in the Scheme Document. All references to times are to London, UK, times unless otherwise stated.\nConsideration, settlement and admission of New Unite Shares\nAs set out in the Scheme Document, a Scheme Shareholder on the register of members of Empiric at the Scheme Record Time, being 6.00 p.m. on 27 January 2026, is entitled to receive the consideration as provided for under the Scheme.\nAs announced by Empiric on 27 November 2025, Empiric confirmed that it will not announce, declare or pay a fourth quarterly dividend for the financial year ended 31 December 2025. However, subject to the Acquisition proceeding in line with the Updated Timetable (as set out in such announcement), Empiric Shareholders who retain their New Unite Shares will be entitled to the Unite Final Dividend, which is ...