2nd Mar 2009 12:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
London, 2 March, 2009
Curidium Medica plc ("Curidium")
and
Avacta Group plc ("Avacta")
RESULT OF COURT HEARING
The boards of Curidium Medica plc (the "Company") and Avacta Group plc are pleased to announce that the High Court of Justice has today made an order sanctioning the scheme of arrangement to effect the recommended all share acquisition of the Company approved by the shareholders of the Company on 11 February 2009. Also today, the High Court of Justice has made an order confirming the associated Reduction of Capital and the Cancellation of the deferred shares in the capital of the Company.
The Effective Date of the Scheme is expected to be 3 March 2009, with the cancellation of admission of the Company's ordinary shares to trading on AIM expected to be at 8 am on 4 March 2009. The commencement of trading of AIM of the New Avacta Shares issued under the terms of the Scheme is expected to be at 8 am on 5 March 2009.
Pending the Effective Date of the Scheme, trading in the Company's shares on AIM is expected to be suspended after the close of business today.
Definitive certificates for the New Avacta Shares are expected to be dispatched by 17 March 2009. It is expected that the New Avacta Shares will be credited to CREST accounts on 5 March 2009.
Capitalised terms used in this announcement have the same meanings as in the Scheme Document.
Enquiries
Curidium
Dr. Barry Porter, Chairman
Rob Smith, Chief Financial Officer
Tel: 020 7554 5100
Avacta
Dr Alastair Smith, Chief Executive Officer
Tim Sykes, Chief Financial Officer
Tel: 0870 835 4367
FinnCap (financial adviser to Curidium)
Charlie Cunningham
Tel: 020 7600 1658
Novum Securities Limited (financial adviser to Avacta)
Henry Turcan
Tel: 020 7562 4700
Haggie Financial (PR to Avacta)
Nicholas Nelson
Tel: 020 7417 8989
Related Shares:
Avacta Group