Cookson Group PLC Scheme of arrangement (6332T)
17 December 2012 - 6:00PM
UK Regulatory
TIDMCKSN TIDMTTM
RNS Number : 6332T
Cookson Group PLC
17 December 2012
17 December 2012
COOKSON GROUP PLC
Demerger update: Scheme effective
Cookson Group plc ("Cookson") is pleased to announce that all
the conditions to the scheme of arrangement of Cookson, which was
announced on 1 November 2012, (the "Scheme") in connection with the
proposed demerger of the Performance Materials division of Cookson
to Alent plc have been satisfied and the Scheme has now become
effective.
In accordance with the terms of the Scheme, the Cookson Shares
have been cancelled and Cookson has become a wholly-owned
subsidiary of Vesuvius plc. Vesuvius plc has issued and allotted
one Vesuvius Share for each Cookson Share held by Scheme
Shareholders on the Cookson register at 6.00 p.m. on 14 December
2012, the Scheme Record Time.
The listing of Cookson's Shares on the premium listing segment
of the Official List and to trading on the London Stock Exchange's
main market for listed securities is expected to be cancelled with
effect from 8.00 a.m. on Monday 17 December 2012.
Vesuvius Admission is expected to commence at 8.00 a.m. on
Monday 17 December 2012. CREST accounts will be credited with
Vesuvius Shares at 8.00 a.m. on Monday 17 December 2012 and
certificates in respect of Vesuvius Shares will be despatched by 28
December 2012.
Prior to the Demerger Effective Time, Vesuvius will be the
holding company of the entire Cookson Group, including the
Performance Materials division. Vesuvius will trade with the CKSN
ticker during this period.
The Demerger, which is subject to the satisfaction of further
conditions (including Court confirmation of the Vesuvius Capital
Reduction), is expected to become effective prior to 8.00 a.m. on
19 December 2012. If the Demerger becomes effective, each Vesuvius
Shareholder on the register at 6.00 p.m. on 18 December 2012, the
Demerger Record Time, will receive one Alent Share in addition to
each Vesuvius Share they already hold. Vesuvius will trade with the
ticker VSVS once the Demerger becomes effective.
Admission of the Alent Shares to the premium listing segment of
the Official list and to trading on the London Stock Exchange's
main market for listed securities, under the ticker ALNT, is
expected to occur at 8.00 a.m. on Wednesday 19 December 2012. CREST
accounts will be credited with Alent Shares at the same time and
certificates in respect of Alent Shares will be despatched by 2
January 2013.
A detailed timetable of events is set out in the circular sent
to Cookson Shareholders dated 1 November 2012 (the "Circular").
Copies of the Circular are available for inspection during
normal business hours on any business day at the offices of
Linklaters LLP, One Silk Street, London EC2Y 8HQ, up to and
including the Demerger Effective Time.
Capitalised terms used in this announcement have the meanings
given to them in the Circular.
About Cookson
Cookson Group plc is a leading materials science group,
providing advanced materials and enabling technologies to its
customers world-wide, servicing the key end-markets of steel
production, foundry castings and electronics.
Vesuvius is a global leader in metal flow engineering,
developing, manufacturing and marketing mission-critical ceramic
consumable products and systems to demanding applications,
primarily in the global steel and foundry industries. Vesuvius also
supplies fabricated precious metals to the jewellery industry in
Europe and has significant precious metals recycling
operations.
Alent is a leading global supplier of advanced surface treatment
plating chemicals and electronics assembly materials. The principal
end-market is global electronics production which accounts for
approximately three-quarters of net sales value with the automotive
and industrial end-markets the balance.
Contacts
Cookson Tel: +44(0)20 7822 0000
Richard Malthouse, Group Secretary
MHP Communications Tel: +44 (0)20 3128 8100
John Olsen
Ian Payne
This information is provided by RNS
The company news service from the London Stock Exchange
END
SOAGGGPUPUPPGPQ
Vesuvius (LSE:VSVS)
Historical Stock Chart
From Apr 2024 to May 2024
Vesuvius (LSE:VSVS)
Historical Stock Chart
From May 2023 to May 2024