16th Dec 2009 15:56
London, 16 December 2009
Velti plc
High Court Approves Scheme of Arrangement
Recommended proposals to establish Velti plc (a company incorporated in Jersey with registered number 103899) ("New Velti") as the holding company of Velti plc ("Old Velti") by means of a scheme of arrangement between Old Velti and its shareholders under sections 895 to 899 of the Companies Act 2006 (the "Scheme").
Old Velti announces that the Court approved the Scheme at a hearing today. The Scheme, which is expected to become effective on 18 December 2009, will result in New Velti becoming the holding company of Old Velti.
Scheme Shareholders will be entitled to receive one New Velti Share for every one Old Velti Share held at 6:00 p.m. (GMT) on 17 December 2009.
It is expected that the cancellation of Old Velti Shares from AIM, the admission of New Velti Shares to AIM, the crediting of New Velti Shares in uncertificated form to CREST accounts and the commencement of dealings in New Velti Shares on AIM will each occur at 8:00 a.m. (GMT) on 18 December 2009.
Capitalised terms used but not defined in this announcement have the meaning given to them in the circular despatched to shareholders of Old Velti on 28 October 2009.
For further information, please contact:
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Bankside Consultants Simon Bloomfield [email protected] +44 (0)207 367 8861 Steve Liebmann +44 (0)207 367 8883 Andy Harris +44 (0)207 367 8866 |
Velti Alex Moukas, Chief Executive Officer +44 (0) 20 7633 5000 Wilson Cheung, Chief Financial Officer +1 415 315 3400 Nick Miles, PR Manager +44 (0)207 633 5034 |
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RBC Capital Markets Sarah Wharry +44 (0)207 653 4667 |
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