Scheme Effective Date

RNS Number : 2579G
New Melrose Industries PLC
19 November 2015
 

 

19 November 2015

 

 

 

 

 

 

 

Melrose Industries PLC ("Old Melrose") and New Melrose Industries PLC ("New Melrose") announce that the orders of the Court sanctioning the scheme of arrangement pursuant to which a new listed holding company was introduced for the Melrose group of companies (the "Scheme") and confirming the associated initial reduction of capital have been delivered to the Registrar of Companies today. The Scheme is therefore effective today, as a result of which New Melrose is now the holding company of Old Melrose and its subsidiaries and the Old Melrose Ordinary Shares have been cancelled. The last day for dealings in the Old Melrose Ordinary Shares was 18 November 2015.

Scheme Shareholders have received one New Melrose Ordinary Share in place of each Old Melrose Ordinary Share held by them at 6.00 p.m. on 18 November 2015. New Melrose Ordinary Shares held in uncertificated form were credited to the relevant CREST accounts by 8.00 a.m. today. The nominal value of each New Melrose Ordinary Share has been set at 26.5 pence. Share certificates in respect of New Melrose Ordinary Shares held in certificated form are expected to be despatched to shareholders after 3 December 2015.

The admission of 995,206,966 New Melrose Ordinary Shares to listing on the premium segment of the Official List and the commencement of dealings in New Melrose Ordinary Shares on the London Stock Exchange's main market for listed securities were effective from 8.00 a.m. today.

As stated in the Prospectus published by New Melrose on 6 October 2015, New Melrose has been renamed Melrose Industries PLC today and New Melrose will commence trading as Melrose Industries PLC with effect from 8 a.m. tomorrow. 

The ISIN number of the New Melrose Ordinary Shares is GB00BYRJP462. New Melrose will have the same ticker symbol as Old Melrose, which will remain as "MRO".

Completion of the New Melrose initial reduction of capital remains subject to confirmation thereof by the Court. It is expected that the Court hearing to confirm the New Melrose initial reduction of capital will take place tomorrow and that the New Melrose initial reduction of capital will become effective on 23 November 2015.

All references in this document to times are to London time unless otherwise stated.

Terms used in this announcement shall have the same meaning as set out in the Circular to Old Melrose Shareholders dated 6 October 2015 and as set out in the Prospectus.

Enquiries:

Montfort Communications


Financial PR


Charlotte McMullen

+44 (0)7921 881 800

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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