ContourGlobal

FTSE Russell notes the announcement by ContourGlobal (UK, BF448H5, FTSE 250 Index, FTSE Global Small Cap Index) in relation to the scheme of arrangement to effect the cash acquisition by Aegean Bidco Limited (non constituent), whereby shareholders will receive GBP 2.636 for each share held. The company have stated that all substantive regulatory conditions pertaining to the acquisition have been satisfied, including shareholder approval, and the scheme timetable states that the customary Court Hearing is expected to take place on Friday 16 December 2022, followed by the suspension of dealings in ContourGlobal on Tuesday 20 December 2022.

Section 4.10 of the FTSE Russell Corporate Actions and Events Guide outlines that an acquisition may be considered final where the only outstanding approvals are considered customary. Furthermore, an acquisition scheduled to occur subsequent to the review may be expedited and applied in conjunction with the review effective date, in order to minimise turnover. Consequently, ContourGlobal will be removed from all FTSE Russell indices from the open of Monday 19 December 2022 concurrent with the December review, with all replacements within fixed indices announced after market close on Wednesday 14 December 2022.

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