LXB Retail Properties Plc Court sanction of scheme of arrangement (0230I)
March 16 2018 - 10:00AM
UK Regulatory
TIDMLXB
RNS Number : 0230I
LXB Retail Properties Plc
16 March 2018
Not for release, publication or distribution, in whole or in
part, in, into or from any jurisdiction where to do so would
constitute a violation of the relevant laws of such
jurisdiction
16 March 2018
LXB RETAIL PROPERTIES PLC
("LXB")
Court sanction of scheme of arrangement
LXB, the Jersey resident closed-ended real estate investment
company focused on edge of town and out of town retail assets,
announces that the Royal Court of Jersey (the "Court") has today
sanctioned the reorganisation (the "Reorganisation") of the LXB
group by way of a scheme of arrangement under Article 125 of the
Companies (Jersey) Law 1991 (the "Scheme").
The Court order sanctioning the Scheme has today been delivered
to the Registrar of Companies for Jersey and, accordingly, the
Scheme has become fully unconditional and the effective date of the
Scheme (the "Effective Date") is 16 March 2018.
In order to facilitate its implementation, certain minor
modifications have been made to the timetable of principal events
of the Scheme as follows:
(i) the date on which certain preparatory steps to the
Reorganisation are to occur (being those set out in paragraphs
1.1(A) to (F) (inclusive) of the Scheme) have been brought forward
from 30 March 2018 to the Effective Date; and
(ii) the time at which certain subsequent steps to the
Reorganisation are to occur (being those set out in paragraphs
1.1(G) and (H) of the Scheme) have, for accounting purposes, been
deferred from 9.00 a.m. on 30 March 2018 until 11:59 p.m. on 31
March 2018 (being the Effective Time of the Scheme).
In accordance with the Scheme, each of LXB, IW Topco Limited and
IW Midco Limited has, on behalf of all concerned, consented to
these changes which have also been approved by the Court. All other
times and dates for implementation of the Scheme remain as set out
in the expected timetable of principal events on page 4 of the the
circular to shareholders dated 3 February 2018 containing details
of the Reorganisation (the "Scheme Circular").
Further details of the Reorganisation and the Returns of Cash
(as such term is defined in the Scheme Circular) are set out in,
respectively, the Scheme Circular and the circular to LXB
shareholders dated 3 February 2018 containing details of the
Returns of Cash.
For further information please contact:
LXB Adviser LLP Tel: 020 7432 7900
Tim Walton, CEO
Brendan O'Grady, FD
J.P. Morgan Cazenove Tel: 020 7742 4000
(NOMAD)
Bronson Albery/Paul Hewlett
Buchanan Tel: 020 7466 5000
Charles Ryland/Henry
Wilson
Overseas jurisdictions
The release, publication or distribution of this announcement
in, into or from jurisdictions other than the UK and Jersey may be
restricted by law and therefore any persons who are subject to the
law of any jurisdiction other than the UK and Jersey should inform
themselves about, and observe, any applicable legal or regulatory
requirements. Any failure to comply with the applicable
restrictions may constitute a violation of the securities laws of
any such jurisdiction.
Publication on website
A copy of this announcement is available on LXB's website
(www.lxbproperties.com).
Time
All times shown in this announcement are London times, unless
otherwise stated.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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