FNS Finsaga

    RNS Number : 0976Z
  Finsaga PLC
  15 July 2008
   


    Finsaga plc ("Finsaga")

    Scheme of Arrangement sanctioned by the Court

    On 6 June 2008, Finsaga announced proposals for the return of capital to Shareholders to be implemented by a scheme of arrangement
pursuant to Part 26 of the Companies Act 2006 (the 'Scheme').

    On 30 June 2008, Finsaga announced that Scheme Shareholders had voted at the Court Meeting to approve the Scheme. At the Extraordinary
General Meeting held on that date, Finsaga Shareholders voted in favour of the Special Resolution set out in the notice of Extraordinary
General Meeting contained in the circular sent to Shareholders dated 6 June 2008.

    The board of Finsaga is pleased to announce that earlier today, the Court issued an order which sanctioned the Scheme. The return of
capital remains subject to the confirmation of the reduction of capital comprised in the Scheme by the Court. As previously announced, the
hearing by the Court to confirm the reduction of capital is expected to be held on 17 July 2008, suspension of dealings in Existing Ordinary
Shares on AIM is expected from 7:00 a.m. on 17 July 2008, De-listing of the Existing Ordinary Shares from AIM is expected to be effective
from 7:00 a.m. on 18 July 2008 and the Scheme Effective Date is expected to be 18 July 2008.

    Capitalised terms used but not defined have the same meanings as set out in the circular sent to Shareholders dated 6 June 2008.


    Enquires:  

    Charles Fairbairn (Chairman)
    Finsaga plc
    Tel: 020 7796 4133 (contact via Hudson Sandler)
    Corporate Website: www.finsaga.com

    Alistair Mackinnon-Musson 
    Nicola Savage 
    Hudson Sandler 
    Tel: 020 7796 4133 
    Email: finsaga@hspr.com


    Mark Williams
    Henry Fitzgerald-O'Connor
    Canaccord Adams Limited
    Nominated Adviser
    Tel: 020 7050 6500

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