1st Sep 2016 13:19
LONDON (Alliance News) - Home Retail Group PLC announced that the scheme by which the recommended acquisition of Home Retail Group by J Sainsbury PLC is being implemented has now become effective. This follows the court granting the reduction court order earlier today confirming the reduction of share capital of Home Retail Group in connection with the scheme and the subsequent delivery of the reduction court order to the registrar of companies.
Completion of the acquisition remains subject to the court granting the Newco reduction court order confirming the reduction of capital of Sainsbury's Intermediate Holdings Ltd (Newco) to effect the capital return and to the registration of the Newco reduction court order with the registrar of companies which are expected to take place tomorrow, September 2, 2016.
Subject to completion of the acquisition, the listing of Home Retail Group shares will be cancelled, and the new Sainsbury's shares will be admitted to listing on the Official List and to trading on the London Stock Exchange, with effect from 0800 on September 5, 2016.
Copyright RTT News/dpa-AFX
Related Shares:
Sainsbury's