Business
High Court Approval
High Court Approval.
About this update from Velocity Composites Plc
[{"type":"text","content":"\n RNS Number : 2454E Velti PLC 16 December 2009 \n \nLondon, 16 December 2009\nVelti plc\nHigh Court Approves Scheme of Arrangement\nRecommended proposals to establish Velti plc (a company incorporated in Jersey with registered number 103899) (\"New Velti\") as the holding company of Velti plc (\"Old Velti\") by means of a scheme of arrangement between Old Velti and its shareholders under sections 895 to 899 of the Companies Act 2006 (the \"Scheme\").\nOld Velti announces that the Court approved the Scheme at a hearing today. The Scheme, which is expected to become effective on 18 December 2009, will result in New Velti becoming the holding company of Old Velti. \nScheme Shareholders will be entitled to receive one New Velti Share for every one Old Velti Share held at 6:00 p.m. (GMT) on 17 December 2009. \nIt is expected that the cancellation of Old Velti Shares from AIM, the admission of New Velti Shares to AIM, the crediting of New Velti Shares in uncertificated form to CREST accounts and the commencement of dealings in New Velti Shares on AIM will each occur at 8:00 a.m. (GMT) on 18 December 2009. \nCapitalised terms used but not defined in this announcement have the meaning given to them in the circular despatched to shareholders of Old Velti on 28 October 2009.\nFor further information, please contact: \n\n\n\n\nBankside Consultants\nSimon Bloomfield [email protected]\n+44 (0)207 367 8861\n\nSteve Liebmann\[email protected]\n+44 (0)207 367 8883 \n\nAndy Harris\[email protected]\n+44 (0)207 367 8866\n\n\n\nVelti\nAlex Moukas, Chief Executive Officer\n+44 (0) 20 7633 5000\n\nWilson Cheung, Chief Financial Officer\n+1 415 315 3400\n\nNick Miles, PR Manager\[email protected] \n+44 (0)207 633 5034 \n\n\n\n\n\nRBC Capital Markets\nSarah Wharry\[email protected]\n+44 (0)207 653 4667 \n\n\n\n\n\n\n\n\n \nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCGUGCAPUPBGAQ \n ","length":4290,"tagName":"div"}]