| Commentary

249.2 Division

| Commentary

249.2 Division

If the scheme relates to a division, a report must be drawn up and adopted by the directors of the transferor and each existing transferee company. The report must include a statement under Section 897 of the Companies Act 2006 explaining the effect of the compromise or arrangement as well as the following information in so far as it is not contained in the Section 897 notice1:

  1. 249.2.1

        the legal and economic grounds for the draft terms, and in particular for the share exchange ratio, and for the criteria on which the allocation to the members of the

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