Last checked at 6 Nov 2012 08:54
Man Strategic Holdings plc/Man Group plc6 November 2012
New Corporate Structure - Scheme Effective Date and De-Listing of Man Ordinary Shares and Listing of New Holding Company
Man Group plc ("Man") and Man Strategic Holdings plc ("New Man") announce that the First Court Order relating to the Scheme and the related Man Statement of Capital have now been delivered to and registered by the Registrar of Companies and that accordingly the Scheme has become effective today and that New Man is now the holding company of Man and its subsidiaries.
Under the Scheme, Man Shareholders received one New Man Ordinary Share for each Man Ordinary Share held at the Scheme Record Time. Therefore, the total issued ordinary share capital of New Man is 1,820,659,446 ordinary shares of 107 US cents each.
New Man also confirms that the listing of the Man Ordinary Shares on the Official List was cancelled and the Man Ordinary Shares ceased to be admitted to trading on the London Stock Exchange's main market for listed securities with effect from 8.00 a.m. today.
The new ISIN number for New Man's ordinary shares is: GB00B83VD954. New Man will have the same ticker symbol as Man, which will therefore remain as "EMG".
The New Man Ordinary Shares, with a nominal value of 107 US cents each, have been admitted to the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities at 8.00 a.m. today.
New Man Ordinary Shares held in uncertificated form were credited to the relevant CREST accounts on or prior to 8.00 a.m. today. Share certificates in respect of New Man Ordinary Shares held in certificated form are expected to be despatched to shareholders by 19 November 2012.
It is expected that the change of name of Man Strategic Holdings plc (company no. 08172396) to Man Group plc and the change of name of Man Group plc (company no. 02921462) to Man Strategic Holdings plc will take effect later today and that New Man will commence trading as Man Group plc with effect from tomorrow.
Completion of the New Man Reduction of Capital remains subject to confirmation thereof by the Court. It is expected that the Court hearing to confirm the New Man Reduction of Capital will take place tomorrow and that the New Man Reduction of Capital will become effective on 8 November 2012.
The dates stated above are indicative only and will depend on the date upon which the Court confirms the New Man Reduction of Capital. New Man will notify changes to the expected timetable set out above by issuing an announcement through a Regulatory Information Service.
Capitalised terms used but not defined in this announcement have the meanings given to them in the Circular published by Man on 24 September 2012.
For further information:
Fiona Smart, Man Group plc +44 20 7144 2030 or email: fiona.smart@man.com
David Waller, Man Group plc +44 20 7144 2121 or email: david.waller@man.com
George Trefgarne, Maitland PR, +44 20 7379 5151
Merrill Lynch International, which is authorised and regulated in the UK by the FSA, has acted exclusively for New Man and no-one else in connection with Admission and will not be responsible to anyone other than New Man for providing the protections afforded to clients of Merrill Lynch International nor for providing advice in relation to Admission.