Announcement of scheme becoming effective—takeover
Announcement of scheme becoming effective—takeover

The following Corporate precedent provides comprehensive and up to date legal information covering:

  • Announcement of scheme becoming effective—takeover

Announcement of scheme becoming effective—takeover

Not 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.

[New offeror shares to be issued pursuant to the offer have not been and will not be registered in the united states of america under the securities act of 1933, as amended, nor under any relevant securities laws in canada, australia, or japan.]

[insert date]

For immediate release

Recommended [Cash ]offer (the Offer)

of

[Insert name of offeree] PLC

by

[Insert name of offeror]

Scheme becomes effective

On [insert date of Rule 2.7 announcement], the boards of [insert full name of Offeree] ([Offeree]) and [insert full name of Offeror] ([Offeror]) announced under Rule 2.7 of the Takeover Code that they had reached agreement on the terms of a recommended[ cash] offer by [Offeror] to acquire the entire issued and to be issued ordinary share capital of [Offeree] (the Acquisition) to be implemented by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the Scheme). The full terms and conditions of the Scheme were set out in the scheme document issued by [Offeree] on [insert date of scheme document] (the Scheme Document).

On [insert date] the Scheme was approved by the Scheme Shareholders

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