Court Approves Schemes Of Arrangement (8600W)
26 November 2010 - 6:00PM
UK Regulatory
TIDMPLNT
RNS Number : 8600W
Plantic Technologies Limited
26 November 2010
26 November 2010
PLANTIC TECHNOLOGIES LIMITED ("Plantic" or "the Company")
COURT APPROVES SCHEMES OF ARRANGEMENT
Plantic (AIM:PLNT) announces that the Supreme Court of Victoria
(Court) has today made orders approving the scheme of arrangement
under which Gordon Merchant No. 2 Pty Ltd will acquire all of the
ordinary shares in Plantic that it does not already own (Share
Scheme).
Plantic also announces that the Court has today made orders
approving the scheme of arrangement under which all options to
acquire ordinary shares in Plantic will be cancelled (Option
Scheme).
Lodgement with the Australian Securities and Investments
Commission
A copy of the Court's orders has today been lodged with the
Australian Securities and Investments Commission and as such the
Share Scheme and the Option Scheme are now legally effective.
Termination of Depositary Interest Deed
Plantic has instructed Computershare Investor Services PLC to
terminate the Depositary Interest Deed with effect on Monday 29
November 2010. Termination of the Depositary Interest Deed will
mean that Plantic's securities will cease trading on AIM.
Scheme consideration
Plantic shareholders who hold shares on the record date for
determining entitlements to receive the Share Scheme consideration
(being 7.00 pm Melbourne time on 2 December 2010) will be paid
GBP0.08 in cash per share from Gordon Merchant No. 2 Pty Ltd.
Plantic option holders who hold Plantic options on the record
date for determining entitlements to receive the Option Scheme
consideration (being 7.00 pm Melbourne time on 2 December 2010)
will be paid an amount in cash per Plantic option that has been
calculated using the Black Scholes Model Valuation from Gordon
Merchant No. 2 Pty Ltd.
Both the Share Scheme and Option Scheme consideration are
expected to be paid to Plantic security holders on 10 December
2010.
FURTHER INFORMATION:
Plantic Technologies Limited
Brendan Morris, Chief Executive Officer +61 (0) 3 9353 7983
Matrix Corporate Capital LLP
Stephen Mischler +44 (0) 20 3206 7203
Tim Graham +44 (0) 20 3206 7206
For more information on Plantic visit the company's website
www.plantic.com.au.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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