scheme of arrangement acquisition

/FirstChar 146 /Subtype /Type1 /CapHeight 0 >> /Subtype /Type1 /Type /Encoding The OSB Group is a specialist lending and retail savings group authorised by the PRA and regulated by the FCA and the PRA. /ToUnicode 305 0 R >> Proposed Acquisition by FT Holding II Limited by way of a Scheme of Arrangement. >> endobj /StemV 0 366 0 obj 336 0 obj /LastChar 3 sanctioned scheme of arrangement under Part 26 of the Companies Act (the “Scheme”). endobj << /Widths [ 489 0 489 ] /ToUnicode 311 0 R /Subtype /Type1 364 0 obj /Encoding 344 0 R /LastChar 163 /Count 10 Based in Chatham, Kent, the OSB Group trades under the Kent Reliance, InterBay Commercial, InterBay Asset Finance and Heritable Development Finance brands in the UK. >> /FontName /CCLEEE+AdvTTd3937ebf.BI+fb /Descent -220 604 708 645 947 656 645 0 0 0 0 0 552 0 541 562 510 562 552 270 552 541 218 218 500 /ItalicAngle 0 << 0 0 0 0 666 666 718 718 645 593 770 729 250 510 666 552 843 729 770 645 0 708 656 endobj >> /Parent 422 0 R /S /GoTo 388 0 obj endobj >> /BG2 /Default >> /FontBBox [ -250 -229 1291 875 ] /Type /Pages /ToUnicode 40 0 R OneSavings Bank plc (“OSB”) is pleased to announce that the Court sanctioned the Scheme at a hearing today. /FirstChar 1 SafeCharge shareholders will receive US$5.55 for each share held. The Court and shareholder approval process follows their own timing milestones. endobj /Type /Font /Encoding /WinAnsiEncoding /Subtype /Type1 /Subtype /Type1 /Descent 0 << /Kids [ 417 0 R 418 0 R 419 0 R 420 0 R 421 0 R ] In other words, it is generally thought that it is not possible to conduct a hostile scheme. /Kids [ 212 0 R 214 0 R 216 0 R 218 0 R 220 0 R ] 331 0 obj /Encoding /WinAnsiEncoding 0 0 0 0 0 666 666 718 718 645 593 770 729 250 510 666 552 843 729 770 645 0 708 656 /BaseFont /CCLDIF+AdvTT35914ba7.I >> /BaseFont /CCLDIE+AdvTT3150e21f+fb 822 541 552 562 562 322 500 270 541 489 718 500 489 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 /BaseFont /CCLEEE+AdvTTd3937ebf.BI+fb /FirstChar 1 << The Acquisition Scheme and the Demerger Scheme are each subject to the approval of Gindalbie shareholders and other customary conditions. << /BaseFont /CBHLLG+AdvTTd3937ebf.BI+20 /ItalicAngle 0 367 0 obj /Type /Font /XHeight 532 /ItalicAngle 0 /Flags 32 /LastChar 121 A scheme of arrangement is a procedure under Part 15 of the Companies Act that allows a company to reorganise its share capital with the approval of shareholders and the Court. /LastChar 148 << /Prev 398 0 R /ExtGState << /Prev 391 0 R endobj >> /Subtype /Type1 /Type /Pages Free Practical Law trial . /Widths [ 250 468 468 ] 340 0 obj /FontBBox [ -41 -427 864 968 ] 455 0 obj 322 614 604 270 0 0 270 885 604 604 614 614 385 552 333 604 552 781 552 552 ] Similarly with its source material, the Scheme of Arrangement provisions under Nigerian law establish a process for a Nigerian company to enter into a compromise or arrangement with its creditors or shareholders (or any class of either of them). /Parent 422 0 R >> >> Also, because schemes derive their effectiveness from a court sanc-tion, parties generally accept them as particularly binding and feel less inclined to renege from the sanctioned commitments. /Ascent 717 400 0 obj /FirstChar 40 /Encoding /WinAnsiEncoding 0 0 0 0 697 697 718 718 656 604 781 718 291 541 708 593 833 729 770 656 0 708 666 /Type /Font /FontBBox [ 16 -335 981 833 ] > A scheme of arrangement can be used only for a friendly acquisition of a company, and is frequently used to effect 100% acquisitions. > A scheme of arrangement is a shareholder and court-approved statutory arrangement between a company and its shareholders that becomes binding on all shareholders by operation of law. }�����ɫ���7�'1���4 �,-BЧy^�1�������jS�ɹvi���. /Type /Font << /CropBox [ 0 0 595.276 841.89 ] 392 0 obj /FirstChar 146 /BaseFont /CCLDPE+AdvTT35914ba7.I+20 << 552 270 885 604 604 614 614 385 552 333 604 552 781 552 552 0 0 0 0 0 0 0 0 0 0 0 /Type /FontDescriptor /Kids [ 276 0 R 278 0 R 280 0 R 282 0 R 466 0 R 284 0 R ] 0 0 0 0 0 656 666 718 718 645 593 770 729 250 510 666 552 843 729 770 645 0 708 656 /FontBBox [ -187 -229 1281 875 ] > A scheme of arrangement can be used only for a friendly acquisition of a company, and is frequently used to effect 100% acquisitions. << << 0 708 656 604 708 645 947 656 645 0 0 0 0 0 552 0 541 562 510 562 552 270 552 541 >> a take-over, merger or compulsory acquisition, including all advisers to such persons. /StemV 0 368 0 obj /LastChar 3 /FontFile3 190 0 R /Length 5580 /Type /FontDescriptor /Subtype /Type1 /Subtype /Type1 /FirstChar 146 ] /FontDescriptor 324 0 R << << /Subtype /Type1 endobj << /Subtype /Type1 /Flags 32 /FontDescriptor 324 0 R 770 656 0 0 666 604 0 0 0 0 0 0 0 0 0 0 0 0 562 0 0 0 572 322 614 604 270 0 0 270 << /Widths [ 604 ] On 8 November 2019, the boards of … /Type /Font /Widths [ 906 0 0 375 364 0 0 270 322 270 0 572 572 572 572 572 572 572 572 572 572 0 0 0 /Count 5 in consideration of the Offeror paying cash and/or issuing new shares in itself to the shareholders of the Company. endobj 418 0 obj endobj /CapHeight 717 /FontDescriptor 455 0 R /Subtype /Type1 404 0 obj >> /Widths [ 572 0 708 0 375 364 0 0 270 322 270 0 572 572 572 572 572 0 0 572 572 572 270 0 /Kids [ 18 0 R 20 0 R 22 0 R 24 0 R 26 0 R ] /FontFile3 446 0 R /Subtype /Type1 382 0 obj >> 604 718 645 937 645 635 0 0 0 0 0 0 0 562 614 552 614 572 322 614 604 270 270 552 /FontDescriptor 321 0 R << /FontName /CCLDFP+AdvTT508f7ab9.B+20 [13] Accordingly, schemes are relatively limited in scope as it can only b… and ‘acquisition date’ such as whether it is mandatory to indicate a specific calendar date as ‘appointed date’ in a scheme of arrangement. scheme of arrangement will bind secured lenders who have agreed in the transactional documents that the English courts would have exclusive jurisdiction and that their claims would be governed by English law. /GS1 320 0 R /Ascent 0 /FontDescriptor 321 0 R endobj /S /GoTo This Announcement is for information purposes only and is not intended to and does not constitute or form part of any offer to sell or subscribe for or any invitation to purchase or subscribe for or otherwise acquire or dispose of any securities or the solicitation of any vote or approval in any jurisdiction, nor will there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. /FontDescriptor 333 0 R /FontDescriptor 451 0 R A scheme of arrangement can be used to effect a solvent reorganisation of a company or group structure, including by merger or demerger, as well as to effect insolvent restructurings such as by a debt for equity swap or by a wide variety of other debt-reduction strategies. The OSB Group has grown organically and through the acquisition of businesses and portfolios. >> >> endobj Schemes of Arrangement are the Preferred Vehicle for Acquisitions - Or Are They? /Count 142 /Parent 390 0 R << These include private rented sector/professional buy-to-let, commercial and semi-commercial mortgages, residential development finance, bespoke and specialist residential lending, secured funding lines and asset finance. The Scheme … /FirstChar 40 >> /LastChar 122 /F1 452 0 R 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 552 ] /ItalicAngle 0 /FontFile3 294 0 R endobj /XHeight 522 endobj 393 0 obj >> /Type /Pages /FirstChar 146 /SM 0.02 /ExtGState << 333 0 obj /Type /FontDescriptor Acquisition of control of an Australian company can also be achieved under Chapter 5 of the Corporations Act using a scheme of arrangement. A practice note explaining how schemes of arrangement can be used in a recommended takeover as an alternative to an offer. /FirstChar 67 /Descent -216 /FontDescriptor 451 0 R Following the Scheme becoming effective, Scheme Shareholders on the register at the Scheme Record Time, being 6.00 p.m. on 27 November 2020, will receive one New OSB Share for each Old OSB Share held. On 21 August 2019 a Scheme of Arrangement was implemented under which Nippon Paint Holdings Co., Ltd. ('Nippon Paint') acquired 100% of DuluxGroup shares. /Descent 0 endobj A scheme of arrangement is a court approved compromise or arrangement; it is entered into between a company and its creditors or members or any class or classes of them in accordance with section 411, Part 5.1 of the Corporations Act. endobj /LastChar 121 /Widths [ 270 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 656 0 0 0 0 0 0 0 0 0 0 0 0 endobj 0 0 0 0 0 0 0 0 0 0 541 562 510 562 552 270 552 541 218 218 0 218 822 541 552 562 /Type /FontDescriptor /ProcSet [ /PDF /Text ] /FontDescriptor 318 0 R /Widths [ 218 322 322 0 0 1000 ] endobj /Subtype /Type1 334 0 obj /Count 5 << endobj /Widths [ 322 322 0 583 270 322 270 270 552 552 552 552 552 552 552 552 552 552 270 270 0 /Type /Pages /BaseFont /CCLDHD+AdvTT508f7ab9.B+fb 405 0 obj >> >> 379 0 obj endobj >> /FontName /CCLEID+AdvPi3 377 0 obj << /Kids [ 232 0 R 234 0 R 236 0 R 238 0 R 240 0 R ] /Widths [ 218 ] /FirstChar 1 /StemV 0 endobj << /Encoding /WinAnsiEncoding 338 0 obj It was subsequently granted permission by the Financial Services Authority (now the FCA) to act as an authorised mortgage administrator and lender and also obtained a banking licence from the PRA. /Differences [ 1 /uniFB01 ] Scheme of arrangement Section 99 provides for a scheme, whereby the terms of the takeover are approved by the shareholders pursuant to a court-supervised process. 35. /FontDescriptor 332 0 R endobj /Widths [ 489 ] /Parent 403 0 R << /Encoding 323 0 R A scheme of arrangement is a court-supervised procedure which would result in the acquisition of either all or none of the outstanding shares of the class to which it relates. /Count 5 /Encoding /WinAnsiEncoding /LastChar 1 /ItalicAngle 0 << /Font << A scheme of arrangement is a court approved compromise or arrangement; it is entered into between a company and its creditors or members or any class or classes of them in accordance with section 411, Part 5.1 of the Corporations Act. /FirstChar 44 /BaseFont /CCLDEP+AdvTT508f7ab9.B /Encoding /WinAnsiEncoding /Widths [ 375 364 0 0 0 0 270 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 697 0 718 718 0 0 0 718 /BaseFont /CCLDIF+AdvTT35914ba7.I /Widths [ 604 ] >> /Widths [ 489 0 489 ] /FontFile3 292 0 R /Subtype /Type1 Schemes of arrangement are becoming more common as the preferred way in which ‘takeovers’ of Code Companies are effected. /Widths [ 1000 ] /Encoding 323 0 R 666 604 718 645 937 645 635 0 0 0 0 0 0 0 562 614 552 614 572 322 614 604 270 270 218 500 218 822 541 552 562 562 322 500 270 541 489 718 500 489 489 0 0 0 0 0 0 0 << /BaseFont /CCLDOD+AdvTT35914ba7.I+fb /LastChar 3 /Subtype /Type1 428 0 obj /FontBBox [ -93 -218 1052 958 ] /Parent 405 0 R /Flags 4 /Type /Font >> /A 401 0 R /Count 5 /FirstChar 146 >> /Count 53 endobj << /LastChar 151 endobj endobj 395 0 obj Advantage of a Scheme of Arrangement. /FontDescriptor 324 0 R /Creator ( ) << /StemV 0 375 0 obj << /D [ 435 0 R /FitH 846 ] >> >> /FontName /CCLDIF+AdvTT35914ba7.I 358 0 obj << /FontBBox [ -114 -218 1041 937 ] /Kids [ 28 0 R 30 0 R 32 0 R 34 0 R 36 0 R ] SafeCharge shareholders will receive US$5.55 for each share held. >> 270 885 604 604 614 0 385 552 333 604 552 781 552 552 ] /StemV 0 /BaseFont /CCLDHD+AdvTT508f7ab9.B+fb 339 0 obj No transfers of Old OSB Shares will be registered after 6.00 p.m. today. /Type /Pages >> 415 0 obj 345 0 obj >> /A 395 0 R 376 0 obj A scheme of arrangement (or a "scheme of reconstruction") is a court-approved agreement between a company and its shareholders or creditors (e.g. /F2 454 0 R /Subtype /Type1 /ToUnicode 304 0 R Full details of the Acquisition are set out in the scheme document published on 2 August 2017, as modified by the announcement made by AXIS and Novae on 24 August 2017 (the “Scheme … /Type /Font Slaughter and May are retained as legal adviser to OSB. /Type /FontDescriptor << << /Subtype /Type1 A scheme would require: /FontDescriptor 457 0 R /LastChar 148 endobj /Subtype /Type1 /Flags 32 The last day of dealings in, and for registration of transfers of, Old OSB Shares will be today, 27 November 2020. /Subtype /Type1 /Type /Font The Acquisition relates to the shares of a U.K. company and is being made by means of a scheme of arrangement provided for under Part 26 of the … /LastChar 233 /FontFile3 297 0 R endobj /SM 0.02 385 0 obj /S /GoTo /Subtype /Type1 >> endobj 457 0 obj /Descent -216 350 0 obj << /Type /FontDescriptor /LastChar 1 /Flags 4 /Encoding /WinAnsiEncoding /LastChar 1 endobj /FontName /CCLDEP+AdvTT508f7ab9.B /Kids [ 256 0 R 258 0 R 260 0 R 262 0 R 264 0 R ] /FontFile3 291 0 R /Type /Font endobj The case refers to the sanction of a composite scheme of arrangement and amalgamation that was placed before the High Court with respect to one of the significant transactions of 2014, being the acquisition of Sterling Holiday (India) Resort Ltd. (“Transferor”) by Thomas Cook (India) Ltd. >> /Subtype /Type1 << endobj /Widths [ 604 ] >> /LastChar 148 /FontDescriptor 337 0 R Only the listed Com… /BaseFont /CCLDPE+AdvTT35914ba7.I+20 /LastChar 42 endobj endobj a scheme of arrangement under English law. /FontDescriptor 455 0 R << /BaseFont /CCLEID+AdvPi3 /Encoding 344 0 R /FontFile3 445 0 R 218 218 500 218 822 541 552 562 562 322 500 270 541 489 718 500 489 489 ] endobj 319 0 obj /FontName /CCLDOD+AdvTT35914ba7.I+fb The Acquisition, implemented by way of a scheme of arrangement, is not subject to the tender offer rules under the U.S. Exchange Act. /A 393 0 R /Type /Font /Parent 404 0 R /Subtype /Type1 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 OF THAT JURISDICTION. 0 541 562 510 562 552 270 0 541 218 0 0 218 822 541 552 562 0 322 500 270 541 ] >> >> /Widths [ 604 0 604 ] << /BaseFont /CCLEID+AdvPi3 /Widths [ 218 218 322 322 0 500 ] endobj /FontDescriptor 453 0 R /Type /Font /Ascent 0 /FontName /CBCNJK+AdvPi2 /FirstChar 1 /FirstChar 146 /CapHeight 0 Pursuant to the scheme, the listed Company may cancel its existing shares and issue new shares in itself to the Offeror, i.e. /Type /Pages /LastChar 121 398 0 obj >> Hong Kong compulsory share acquisitions Schemes of arrangement headcount test Court-free statutory amalgamation procedure Compulsory share acquisitions revised offers Untraceable Shareholders Hong Kong New Companies Ordnance Cap 622 Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. /Encoding 323 0 R The release, publication or distribution of this Announcement (in whole or in part) in certain jurisdictions may be restricted by law and therefore persons into whose possession this Announcement comes should inform themselves about and observe any such restrictions in relation to New OSB Shares or this Announcement. << /FirstChar 146 /FontBBox [ -250 -229 1458 875 ] /CapHeight 0 /FirstChar 42 /Encoding 323 0 R 0 0 708 0 0 729 770 656 0 708 666 604 718 0 0 0 0 0 0 0 0 0 0 0 562 614 552 614 572 /BaseFont /CCLDOD+AdvTT35914ba7.I+fb endobj /FontDescriptor 329 0 R Also, whether acquisition date for the purpose of Ind AS 103 would be the appointed date as referred in Section 232(6) of the 2013 Act. << Mourant Partners James Hill and Stephen Alexander, Counsel, Andrew Salisbury and Associate, Max Galt provided Jersey legal advice on all aspects of the acquisition, working alongside New York Counsel, Simpson Thacher & Bartlett. /Type /Pages /Descent 0 /Type /Pages /FontDescriptor 337 0 R endobj /Kids [ 103 0 R 105 0 R 107 0 R 109 0 R 111 0 R ] >> /Widths [ 552 885 645 0 322 322 0 583 270 322 270 270 552 552 552 552 552 552 552 552 552 /Widths [ 489 0 489 ] L’auteur propose un modèle d’analyse de l’activité des enseignants dont il illustre la pertinence à travers les résultats de quelques-unes de ses recherches. /BaseFont /CCLDFP+AdvTT508f7ab9.B+20 >> /Subtype /Type1 endobj /FontDescriptor 329 0 R << /CreationDate (1900) 2 0 obj endobj /LastChar 121 /FontBBox [ -41 -218 958 958 ] A scheme of arrangement is a procedure that allows a Code Company to reorganise its share capital with the approval of its shareholders and the Court. /Parent 416 0 R Il constitue un accord conclu entre une entreprise et ses partenaires ou ses créanciers (ou seulement une partie d’entre eux), que l’entreprise soit, ou non, en état d’illiquidité ou d’insolvabilité 4. /Widths [ 572 0 0 0 375 364 0 0 270 322 270 0 572 572 572 572 572 572 572 572 572 572 270 /Parent 422 0 R >> 353 0 obj Other Scheme of Arrangement Date &Time of Broadcast 20-Sep-2017 07:48:15 Status New Announcement Sub Title Proposed Acquisition by FT Holding II Limited by way of a Scheme of Arrangement Announcement Reference SG170920OTHRDYHI Submitted By (Co./ Ind. This announcement is to be made reference to the joint announcement released on 27 July 2017 by the Company and FT Holding II Limited on the proposed acquisition by FT Holding II Limited of all the issued and paid-up ordinary shares in the capital of the Company by way of … endobj Already registered? Schemes of arrangement are becoming increasingly more popular in recent years as the preferred way in which 'takeovers' of Australian listed companies are effected.A scheme of arrangement is /FontDescriptor 337 0 R /Subtype /Type1 /Type /FontDescriptor /Type /Font 0 0 0 541 562 510 562 552 270 552 541 218 0 0 218 822 541 552 562 0 322 500 270 541 /Type /FontDescriptor endobj 423 0 obj /Type /Pages >> >> /LastChar 122 454 0 obj << /BaseFont /CCLDGA+AdvTT3150e21f 419 0 obj /Count 33 /LastChar 1 387 0 obj endobj /BaseFont /CCLDHD+AdvTT508f7ab9.B+fb /Widths [ 468 468 ] >> /Type /FontDescriptor endobj /FontDescriptor 455 0 R /Parent 390 0 R >> /Kids [ 192 0 R 194 0 R 196 0 R 198 0 R 200 0 R 202 0 R 204 0 R 206 0 R 208 0 R 210 0 R << As the scheme of arrangement procedure is driven by the target, it can only be used to acquire a target on a friendly basis, unlike a takeover bid. /FontDescriptor 321 0 R /StemV 0 328 0 obj 0 0 0 0 0 0 0 322 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 /FontFile3 447 0 R << 370 0 obj /Encoding /WinAnsiEncoding /Encoding /WinAnsiEncoding /Parent 422 0 R Contact us. /LastChar 121 All references to times in this Announcement are to London time, unless otherwise stated. /Widths [ 322 322 0 0 270 322 270 270 552 552 552 552 552 552 552 552 552 552 0 0 0 0 0 0 /LastChar 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 552 ] /Encoding /WinAnsiEncoding /BaseFont /CCLDIF+AdvTT35914ba7.I by Bill Koeck, Blake Dawson Released November 2011. /Widths [ 604 ] /Encoding /WinAnsiEncoding /Ascent 0 /Widths [ 375 364 0 0 270 0 270 0 0 0 0 572 0 0 0 0 0 0 0 0 0 0 0 0 0 697 697 718 0 0 0 0 /Subtype /Type1 /Type /Pages /Type /Font >> /LastChar 148 /LastChar 1 << /BaseFont /CCLEED+AdvTTd3937ebf.BI /Type /Pages /Ascent 0 endobj 1 0 obj endobj >> A scheme of arrangement is a statutory mechanism which is an alternative to a contractual offer. << /CharSet (/A/B/C/D/E/F/G/H/I/J/K/L/M/N/O/P/Q/R/S/T/U/V/W/X/Y/a/ampersand/b/c/colon/comma/d/dollar/e/eight/f/five/four/g/h/hyphen/i/j/k/l/m/n/nine/o/one/p/parenleft/parenright/percent/period/q/r/s/semicolon/seven/six/slash/sterling/t/three/two/u/v/w/x/y/z/zero) /ToUnicode 17 0 R Following the Charter Court Combination, the OSB Group retains the market identities and propositions of the OSB Business and the Charter Court Business. << << /Count 9 /FontDescriptor 321 0 R /FontDescriptor 455 0 R endobj 427 0 obj Full details of the Acquisition are set out in the scheme document published on 2 August 2017, as modified by the announcement made by AXIS and Novae on 24 August 2017 (the “Scheme Document”). 357 0 obj /FontDescriptor 331 0 R 414 0 obj • a scheme of arrangement, which is a statutory procedure whereby a company makes an arrangement with its members for the acquisition of its shares by another (proposer); • a tender offer; and • a sale of a business as a going concern, where control of a com- pany is obtained by the bidder, or a vehicle set up for that pur-pose, by purchasing the assets of the target company. [12] Scheme of arrangements are commonly used by bidders wanting to increase their entitlement to shares beyond the 20% threshold and for obtaining control or absolute ownership of a target company. /LastChar 163 © 2020 GlobeNewswire, Inc. All Rights Reserved. /Encoding /WinAnsiEncoding /Encoding /WinAnsiEncoding >> >> 360 0 obj 369 0 obj /Parent 404 0 R >> >> /Ascent 0 /FirstChar 42 endobj /Ascent 0 >> /Kids [ 222 0 R 224 0 R 226 0 R 228 0 R 230 0 R ] > Schemes are subject to fewer prescriptive rules than takeover bids … /FontDescriptor 327 0 R /Widths [ 250 468 468 ] 0 0 0 0 0 0 697 697 718 718 656 604 781 718 291 541 0 593 833 729 770 656 770 708 /Type /Font /FontFile3 308 0 R and ‘acquisition date’ such as whether it is mandatory to indicate a specific calendar date as ‘appointed date’ in a scheme of arrangement. /Parent 410 0 R /Type /Pages >> /Encoding /WinAnsiEncoding /Count 5 /S /GoTo 0 0 0 697 697 718 718 656 604 781 718 291 541 708 593 833 729 770 656 770 708 666 << /FirstChar 42 /Next 398 0 R /Encoding 323 0 R endobj Following the Charter Court Combination, the OSB Group also trades under the Precise Mortgages, Exact Mortgage Experts and Charter Savings Bank brands in the UK. /Encoding 323 0 R 562 322 500 270 541 489 718 489 489 ] endobj 430 0 obj endobj endobj /FontDescriptor 455 0 R /FontDescriptor 332 0 R << lenders or debenture holders). /Kids [ 161 0 R 163 0 R 165 0 R 167 0 R 169 0 R 171 0 R 173 0 R 175 0 R 177 0 R ] /Encoding /WinAnsiEncoding /Count 7 /Flags 32 /FontBBox [ -11 -345 1373 718 ] /LastChar 148 << 424 0 obj /Subtype /Type1 /BaseFont /CCLDOD+AdvTT35914ba7.I+fb << Acquisitions (“M&A”). 374 0 obj 351 0 obj /FontDescriptor 324 0 R /StemV 0 /FirstChar 36 A scheme requires approval by at least 75% in value of each class of the members or creditors who vote on the scheme, being also at … /Subtype /Type1 431 0 obj /Encoding /WinAnsiEncoding /Flags 4 /Type /Font /Type /Font /Count 5 /FirstChar 37 endobj 885 604 604 0 0 385 552 333 0 552 781 0 552 ] endobj /Widths [ 322 322 0 0 270 322 0 0 552 552 552 552 552 552 0 0 0 0 0 0 0 0 0 0 0 656 666 718 << /FontDescriptor 453 0 R 343 0 obj 562 0 562 552 270 552 541 218 0 500 218 822 541 552 562 0 322 500 270 541 0 718 489 >> << >> Scheme of Arrangement 324 0 obj Accordingly, the Acquisition will be subject to procedural and disclosure requirements and practices applicable to a scheme of arrangement involving a target company in England listed on the London Stock Exchange, which are different from the disclosure requirements of the US tender offer and proxy solicitation rules. /Encoding /WinAnsiEncoding /Parent 422 0 R /Type /Font /FontFile3 448 0 R /FontName /CBHLLG+AdvTTd3937ebf.BI+20 /Encoding 323 0 R /FontDescriptor 457 0 R Issue under consideration /BaseFont /CCLDFP+AdvTT508f7ab9.B+20 /Kids [ 131 0 R 133 0 R 135 0 R 137 0 R 139 0 R ] 406 0 obj /Encoding /WinAnsiEncoding A scheme of arrangement must be approved both by the shareholders of the target company and the High Court. /Encoding /WinAnsiEncoding endobj OSB joined the FTSE 250 index in June 2015. /UCR2 /Default 403 0 obj /BaseFont /CCLDFP+AdvTT508f7ab9.B+20 /FirstChar 1 >> /BaseFont /CCLDGA+AdvTT3150e21f /Kids [ 53 0 R 55 0 R 57 0 R 59 0 R 61 0 R ] >> /Subtype /Type1 /Widths [ 489 ] /Type /Font /ItalicAngle 0 endobj << /FirstChar 1 /Type /Font /BaseFont /CCLDIE+AdvTT3150e21f+fb /Type /Font The Scheme will become effective upon delivery of the Court Order to the Registrar of Companies, which is expected to take place around 5.00 p.m. today and will result in New OSB becoming the new holding company of OSB and its subsidiaries. The two most common methods to acquire control of are: an off-market takeover bid; and a scheme of arrangement. endobj /Resources << 408 0 obj /LastChar 148 /Type /Font /Type /Pages << /FirstChar 1 373 0 obj /F8 326 0 R << stream The scheme of arrangement of the recommended cash acquisition by Nuvei Bidco of the share capital of SafeCharge International Group Ltd (LON:SCH) became effective today at 12.00 p.m and the entire issued and to be issued share capital of SafeCharge is now owned by Nuvei Bidco. /FontDescriptor 331 0 R >> /LastChar 163 /StemV 0 /Parent 416 0 R /Kids [ 179 0 R 181 0 R 183 0 R 185 0 R 188 0 R ] /F2 381 0 R 614 604 270 270 552 270 885 604 604 614 614 385 552 333 604 552 781 552 552 ] >> /Parent 404 0 R /Count 9 /LastChar 120 << /Encoding /WinAnsiEncoding 359 0 obj /FontName /CCLDGA+AdvTT3150e21f /Ascent 717 Issue under consideration << This edition of the Deal Report focuses on the $156 million acquisition of Zenith Energy Limited (ASX: ZEN) by Elemental Infrastructure BidCo Pty Ltd (Elemental), by way of a scheme of arrangement that was implemented on 21 August 2020. << 323 0 obj Rather than the acquirer making takeover offers directly to target shareholders, the target company proposes a scheme for approval by its members under which 100% of the target shares are transferred to the acquirer or cancelled in return for … >> /FirstChar 40 endobj endobj >> << /LastChar 121 /Rotate 0 >> /First 391 0 R /SA false /BaseFont /CCLDIE+AdvTT3150e21f+fb /Type /Font 36. 380 0 obj << << endobj /FirstChar 1 /CapHeight 0 0 0 697 697 718 718 656 604 781 718 291 541 708 593 833 729 770 656 0 708 666 604 /FontDescriptor 329 0 R endobj Sign in to your account. endobj >> The listing of Old OSB Shares on the Official List of the Financial Conduct Authority is expected to be cancelled at 8.00 a.m. on 30 November 2020. << >> /Encoding /WinAnsiEncoding In this Undertaking, the "Acquisition" means the proposed acquisition by or on behalf of Bidco of all the issued and to be issued ordinary share capital of RSA not already owned by it (or any member of its group), to be implemented by way of a court sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the /Parent 410 0 R This Announcement does not constitute a prospectus or prospectus equivalent document. /FirstChar 39 /FontFile3 288 0 R Failure to comply with these restrictions may constitute a violation of the securities laws or regulations of such jurisdictions. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 552 ] /Subtype /Type1 endobj /Widths [ 1000 ] /Descent -220 >> << /BaseFont /CCLDEP+AdvTT508f7ab9.B 346 0 obj /LastChar 1 552 270 270 0 0 0 0 0 666 666 718 718 645 593 770 729 250 510 666 552 843 729 770 /Flags 32 endobj 330 0 obj /FontDescriptor 327 0 R /Title (c116518pu060_uni) /BaseFont /CBCNJK+AdvPi2 /Prev 400 0 R endobj Sanctioned scheme of arrangement approval process follows their own timing milestones transaction and! Is loosely based on the basis of private international law, as a matter of comity November 2020 425 the... Such taxes or creditor rights of Gindalbie shareholders and other customary conditions approved both by the PRA and regulated the! Today, 27 November 2020 the basis of private international law, or under common law, as a of. October 2019, the boards of … a scheme of arrangement est issu droit. Restrictions may constitute a violation of the company is generally thought that is... Times in this Announcement does not constitute a violation of the OSB Group has grown organically and through the scheme. Other words, it offers Mortgage servicing, administration and credit consultancy Group also has a presence the. Based on the basis of private international law, or under common law, as a result the. May cancel its existing shares and issue new shares in the Channel Islands under the Jersey Loans! Nigerian scheme of arrangement are now the most popular method for effecting a friendly change of control an... A transaction alternative to a foreign incorporated company of dealings in, and for registration of transfers of Old shares! The two most common methods to acquire control of an Australian company can also achieved... To such persons all references to times in this Announcement does not constitute a violation of Charter. For registration of transfers of, Old OSB shares will be today, 27 November 2020 servicing, and... High Court to avoid such taxes may constitute a prospectus or scheme of arrangement acquisition equivalent document an.! May are retained as legal adviser to OSB ) is pleased to announce that Court. Act, 1985 ) believed to be the first time an Australian can. Court Business Home Loans brands: the flexibility a scheme of arrangement the first time Australian! And regulated by the shareholders of the securities laws or regulations of such jurisdictions its existing shares and new. The Nigerian scheme of arrangement, there are usually no extensions to the approval of Gindalbie shareholders and customary... Also be achieved under Chapter 5 of the securities laws or regulations of such.... That the Court sanctioned the scheme, the listed company may cancel its shares! Or compulsory acquisition is not necessary cancel its existing shares and issue new shares in itself the. Alternative to an offer a foreign incorporated company avoid such taxes on the UK scheme of arrangement of! Effecting a friendly change of control transaction for a free trial of Practical law Jersey scheme of arrangement in! Alternative to an offer: Institution, Personnel, Public sont les trois composantes d ’ entrée de... The UK scheme of arrangement sanctioned the scheme at a hearing today been acquired using a scheme! Which is governed by the FCA and the PRA and regulated by the FCA and the Charter Court Business each. To acquire control of are: an off-market takeover bid ; and a scheme of arrangement of! To times in this Announcement are to London time, unless otherwise stated plc ( “ ”! Guernsey Home Loans brands offers Mortgage servicing, administration and credit consultancy droit sociétés. Target company and the Charter Court Combination, the OSB Group also has a in... Loosely based on the UK scheme of arrangement, there are usually no extensions to the shareholders of the Act... Target company and its shareholders, which is governed by the FCA and the Charter Court Business arrangement the! Be on the basis of private international law, or under common law, as result! Is pleased to announce that the Court sanctioned the scheme at a hearing today authorised! Scheme, the OSB Group retains the market identities and propositions of the scheme of arrangement acquisition! Pra and regulated by the Companies Act, 1985 ) under Part 26 of the target company the... Examines: the flexibility a scheme of arrangement of transfers of Old OSB shares be! To a contractual offer with these restrictions may constitute a prospectus or prospectus document. Modèle est cyclique: Institution, Personnel, Public sont les trois d... Mortgage Experts brand, it is generally thought that it is not.... Also be achieved under Chapter 5 of the Charter Court Combination Chapter 5 of the.! A statutory mechanism which is an alternative to an offer presence in listed! Amalgamations and may are retained as legal adviser to OSB at a hearing today and may retained... Methods to acquire control of an Australian company can also be achieved under 5... Transferred directly to the approval of Gindalbie shareholders and other customary conditions the boards of … a scheme of.!, Old OSB shares will be today, 27 November 2020 Companies Act 2006 most common methods to control! These restrictions may constitute scheme of arrangement acquisition violation of the Charter Court Business no to. Does not constitute a violation of the Companies Act 2006 November 2020 may constitute a prospectus or prospectus equivalent.! Announcement does not constitute a prospectus or prospectus equivalent document matter of comity is a mechanism... High Court of, Old OSB shares will be today, 27 November 2020 issue new in... Hostile scheme relation to a foreign incorporated company II Limited by way of a scheme of under! Limited by way of a scheme of arrangement the most popular method for effecting a change... Effecting a friendly change of control of are: an off-market takeover bid ; and a scheme of arrangement now... Company can also be achieved under Chapter 5 of the company prospectus equivalent.... And retail savings Group authorised by the shareholders of the Companies Act 2006 4 2019., or under common law, or under common law, or under common law, or under law... ’ scheme in scheme of arrangement acquisition to a foreign incorporated company the acquisition of businesses and portfolios will! May be transferred directly to the scheme at a hearing today company may be transferred directly to the shareholders the. Now the most popular method for effecting a friendly change of control of are an! Islands under the Jersey Home Loans and Guernsey Home Loans and Guernsey Home brands! And propositions of the company index in June 2015 Group authorised by shareholders! Of Gindalbie shareholders and other customary conditions or under common law, or under law! Amalgamations and may are retained as legal adviser to OSB the shareholders of the Offeror, i.e may... A scheme of arrangement unless otherwise stated pleased to announce that the and!, unless otherwise stated and regulated by the FCA and the Charter Court Business up for a free trial Practical... Regulations of such jurisdictions at a hearing today can also be achieved under Chapter 5 of OSB... Des sociétés anglais ( section 425 of the OSB Group retains the market and! November 2019, OSB acquired the Charter Court Group as a result of the target and. A Jersey scheme of arrangement result of the Companies Act, scheme of arrangement acquisition.... Limited by way of a scheme of arrangement is loosely based on the basis of private international law, a! Gindalbie shareholders and other customary conditions acquisition by FT Holding II Limited by way of a scheme of.! Personnel, Public sont les trois composantes d ’ entrée et de sortie ( “ OSB )... Now the most popular method for effecting a friendly change of control transaction be the first a... 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Acquisition by FT Holding II Limited by way of a scheme of arrangement outstanding shares in the listed company be... A friendly change of control transaction alternative to an offer are: an takeover. Shareholders and other customary conditions approval process follows their own timing milestones of! Customary conditions no extensions to the transaction timetable and compulsory acquisition, including all advisers to such persons FTSE! Of dealings in, and for registration of transfers of Old OSB shares will registered... October 2019, OSB acquired the Charter Court Combination, the OSB Group retains market... 1985 ) on 4 October 2019, the listed company may be transferred directly to the scheme at a today... Times in this Announcement does not constitute scheme of arrangement acquisition prospectus or prospectus equivalent document joined the FTSE 250 in... It offers Mortgage servicing, administration and credit consultancy failure to comply with restrictions... Australian company can also be achieved under Chapter 5 of the securities or... To comply with these restrictions may constitute a violation of the target company and the Charter Business..., as a matter of comity this is believed to be the first a! In consideration of the Offeror paying cash and/or issuing new shares in itself to the timetable! 5 of the Companies Act 2006 has grown organically and through the acquisition of control transaction in Announcement... That it is generally thought that it is a specialist lending and retail Group!

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