21st Jun 2005 09:35
Rentokil Initial PLC21 June 2005 RENTOKIL INITIAL plc Capital Reorganisation of the Rentokil Initial group Scheme of Arrangement becomes effective At a hearing of the High Court (the "Court") on 20 June 2005, the Courtsanctioned the proposed scheme of arrangement of Rentokil Initial plc ("RentokilInitial") under section 425 of the Companies Act 1985 (the "Scheme") tointroduce a new listed group holding company, Rentokil Initial 2005 plc ("NewRentokil Initial"). The Scheme became effective at 8.00am today, 21 June 2005, and the new NewRentokil Initial shares were admitted to the Official List and to trading on theLondon Stock Exchange's market for listed securities at that time. In addition,the name of New Rentokil Initial was changed to Rentokil Initial plc and thename of Rentokil Initial to Rentokil Initial 1927 plc at that time. Under the terms of the Scheme, holders of Rentokil Initial shares at the SchemeRecord Time (which was 6.00pm on 20 June 2005) have received one new NewRentokil Initial share for each Rentokil Initial share held and cancelledpursuant to the Scheme. The Court is expected to approve the reduction of capital of New RentokilInitial (the "Reduction of Capital") at a hearing on 22 June 2005. The Reductionof Capital is expected to become effective on 23 June 2005, whereupon thenominal value of a New Rentokil Initial ordinary share will be reduced fromGBP1.00 to 1 penny. For further information please contact: Rentokil Initial Roger Payne, Finance Director Tel: 01342 833022 Charles Grimaldi, Investor Relations Tel: 01342 833022 UBS Investment Bank Emma Goodrick Tel: 020 7567 8000 Jonathan Bewes Tel: 020 7567 8000 UBS Limited is acting for Rentokil Initial and New Rentokil Initial and no-oneelse in connection with the Scheme and the Reduction of Capital and,accordingly, will not be responsible to anyone other than Rentokil Initial andNew Rentokil Initial for providing the protections afforded to its clients norfor providing advice in relation to the Scheme or the Reduction of Capital or any other matters referred to in the Listing Particulars published by New Rentokil in connection with the reorganisation, the circular sent by Rentokil Initial relating to the Scheme or herein. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Rentokil Initial