High Court Approves Scheme Of Arrangement
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Proposed introduction of Pollen Street Group Limited ("New Holdco") as a new holding company of Pollen Street Plc by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006 (the "Scheme") and New Holdco's admission to the premium listing segment of the Official List and to trading on the main market of the London Stock Exchange
HIGH COURT APPROVES SCHEME OF ARRANGEMENT
Pollen Street is pleased to announce that the Court sanctioned the Scheme at a hearing today. The Scheme will become effective upon delivery of the Court Order to the Registrar of Companies, which is expected to take place on 24 January 2024 (the "Scheme Effective Date") and will result in New Holdco becoming the new holding company of Pollen Street and its subsidiaries.
The Scheme is between Pollen Street and its shareholders and involves the cancellation of the Pollen Street ordinary shares held by its shareholders at 6.00 p.m. on the business day preceding the Scheme Effective Date (the "Existing Holdco Ordinary Shares") in exchange for the same number of ordinary shares in New Holdco (the "New Scheme Ordinary Shares"). The rights attaching to the New Scheme Ordinary Shares will be substantively the same as those attaching to the Existing Holdco Ordinary Shares at the Scheme Effective Date.
The last day of dealings in, and for registration of transfers of, the Existing Holdco Ordinary Shares will be 23 January 2024. No transfers of Existing Holdco Ordinary Shares will be registered after 6.00 p.m. on 23 January 2024.
On the Scheme Effective Date, the shareholders on Pollen Street's register of members at 6.00 p.m. on 23 January 2024 will receive one New Scheme Ordinary Share for each Existing Holdco Ordinary Share held.
It is expected that the New Scheme Ordinary Shares will be admitted to the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities at 8.00 a.m. on 24 January 2024. The listing of Existing Holdco Ordinary Shares on the Official List of the Financial Conduct Authority is expected to be cancelled at 8.00 a.m. on 24 January 2024.
All references to times in this Announcement are to London time, unless otherwise stated.
This Announcement does not constitute a prospectus or prospectus equivalent document.
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