17th May 2006 12:30
SVB Holdings PLC17 May 2006 SVB Holdings PLC17 May 2006 SVB Holdings PLC ("SVB") SVB announces that the High Court has today made an order sanctioning the schemeof arrangement dated 28 March 2006 (the "Scheme") between SVB and the holders ofits Scheme Shares (as defined in the Scheme) and confirming both the reductionof capital provided for by the Scheme and the cancellation of the SVB DeferredShares. Pursuant to the terms of the Scheme, a new parent company will be introduced forSVB. This new parent company is called Novae Group plc ("Novae"). It is intended that the Court Order will be delivered to the Registrar ofCompanies for registration, and that the Scheme will become effective, on 18 May2006. The expected timetable for implementation of the Scheme remains as follows: Last day of dealings in SVB Ordinary Shares 17 May 2006 Scheme Record Time 6.00p.m., 17 May 2006 Scheme Effective Date 18 May 2006 Delisting of SVB Ordinary Shares 7.59a.m., 18 May 2006 Novae Ordinary Shares admitted to the Official List and dealings in Novae Ordinary Shares commence on the London Stock Exchange 8.00a.m., 18 May 2006 Crediting of Novae Ordinary Shares to CREST accounts 18 May 2006 Latest date for despatch of Novae share certificates 2 June 2006 Enquiries: SVB Holdings PLC 020 7903 7300 Matthew FoshOliver Corbett Hoare Govett Limited 020 7678 8000 Sponsor, Financial Adviser, Broker and UnderwriterJohn MacGowanBob CowdellStephen Bowler M: Communications 020 7153 1521 Nick MilesCaroline Villiers Other information Unless the context otherwise appears, terms defined in the SVB scheme circulardated 28 March 2006 have the same meaning in this announcement. The directors of SVB and Novae accept responsibility for the informationcontained in this announcement and, to the best of their knowledge and belief(having taken reasonable care to ensure that such is the case), the informationcontained in this announcement is in accordance with the facts and does not omitanything likely to affect the import of such information. Hoare Govett Limited, which is authorised and regulated in the UK by theFinancial Services Authority, is acting exclusively for SVB and Novae inconnection with the Scheme and for no-one else and will not be responsible toanyone other than SVB and Novae for providing the protections afforded to theirrespective clients, for the contents of this announcement, or for providingadvice in relation to the Scheme. Securities may not be offered or sold in the United States unless they areregistered under the US Securities Act of 1933, as amended, or exempt from suchregistration. The Novae Ordinary Shares have not been, nor will be, and are notrequired to be, registered with the US Securities and Exchange Commission underthat Act, in reliance on the exemption provided by section 3(a)(10) thereof. USshareholders who are affiliates (within the meaning of the US Securities Act of1933) of SVB or Novae before implementation of the Scheme or are affiliates ofNovae after the implementation of the Scheme will be subject to timing, mannerof sale and volume restrictions on the sale of Novae Ordinary Shares received inconnection with the Scheme under rule 145(d) of that Act. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Novae Group