26th Apr 2005 17:34
Rentokil Initial PLC26 April 2005 REG-Rentokil Initial plc-Corporate Reorganisation Proposed Corporate Reorganisation of Rentokil Initial plc ("Rentokil Initial") On 24 February 2005, the Board of Rentokil Initial announced its proposal toimplement a corporate reorganisation, by way of a Court approved scheme ofarrangement under section 425 of the Companies Act 1985 (the "Scheme"), tointroduce a new listed holding company for the group, which would acquire theexisting group and then implement a reduction of capital to create additionaldistributable reserves (the "Reduction of Capital"). The Board of Rentokil Initial announces that shareholders have today been sent acircular setting out in full the details of the proposed Scheme and Reduction ofCapital. The Scheme is subject to and conditional upon, inter alia, shareholderapproval at a Court meeting and an extraordinary general meeting, both of whichwill be held on 26 May 2005 (the day of Rentokil's Initial's annual generalmeeting). and the sanction of the High Court. Once the Scheme becomes effective,the new holding company, Rentokil Initial 2005 plc ("New Rentokil Initial"),will be renamed Rentokil Initial plc. It is anticipated that dealings in theshares in New Rentokil Initial will commence on 21 June 2005 ("Admission"). Copies of the Listing Particulars relating to New Rentokil Initial can beobtained, free of charge, from Capita Registrars (The Registry, 34 BeckenhamRoad, Beckenham, Kent, BR3 4TU). In addition, copies of the Listing Particulars may be obtained free of chargeduring normal business hours on any week day (excluding Saturdays, Sundays andpublic holidays) up until Admission (or such later time as the Scheme becomeseffective or lapses) from the registered office of Rentokil Initial plc, beingFelcourt, East Grinstead, West Sussex, RH19 2JY, from the Rentokil Initial plcwebsite (www.rentokil-initial.com) or from UBS Limited, 1 Finsbury Avenue,London, EC2M 2PP. Copies of the Listing Particulars are also available during normal businesshours on any week day (excluding Saturdays, Sundays and public holidays), forinspection only, at the Document Viewing Facility of the Financial ServicesAuthority at 25 The North Colonnade, Canary Wharf, London, E14 5HS or at theoffices of Freshfields Bruckhaus Deringer at 65 Fleet Street, London, EC4Y 1HS,from the date of publication up until Admission. For further information please contact: Rentokil InitialRoger Payne Group Finance Director Tel: 01342 830 350Charles Grimaldi Investor Relations Tel: 01342 830 228 UBS Investment BankEmma Goodrick Tel: 020 7567 8000Jonathan 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 orany other matters referred to in the Listing Particulars or herein. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Rentokil Initial