95.3% of shareholders voted in favour of scheme
Shareholders have approved the scheme that will allow US broking group AmWINS to acquire Lloyd’s broker THB.
Some 95.3% of the shareholders, accounting for 18.5 million THB shares, voted in favour of the scheme. Once the scheme is effective, scheme shareholders will receive 80.55 pence a share in cash.
Shareholders voted on the scheme at a court meeting yesterday.
Implementation of the scheme is still subject to the satisfaction or waiver of several conditions, including a court sanction of the scheme and confirmation associated reduction of capital. The hearing for the sanction of the scheme is scheduled for 19 January, while the hearing for the confirmation of the capital reduction is expected to take place on 23 January. The effective date of the scheme is expected to be 24 January.
Listing and dealing in THB shares on the London Stock Exchange’s Alternative Investment Market will be suspended from 07.30 on 23 January, and the cancellation of admission to trading of THB’s shares will take place no later than 07.00 on 24 January.
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