TUI AG Regulatory News (TUI)

31 Aug 2007 13:12

First Choice Holidays PLC31 August 2007 31 August 2007 FIRST CHOICE HOLIDAYS PLC ORDER CONFIRMING THE REDUCTION OF CAPITAL RELATING TO THE MERGER WITH THE TOURISM DIVISION OF TUI AG TO CREATE TUI TRAVEL PLC First Choice Holidays PLC ("First Choice") announces that, at a hearing heldearlier today, the High Court of Justice in England and Wales (the "Court")granted an order confirming the reduction of capital (the "Reduction CourtOrder") relating to the scheme of arrangement (the "Scheme") between FirstChoice and the holders of the Scheme Shares. As previously announced by FirstChoice, the Scheme was sanctioned by the Court at a hearing held on 29 August2007. It is intended that the Reduction Court Order, together with the order of theCourt sanctioning the Scheme (the "Scheme Court Order"), will be delivered tothe Registrar of Companies in England and Wales for registration on Monday 3September 2007. The Scheme and the reduction of capital will consequently becomeeffective as soon as office copies of the Scheme Court Order and the ReductionCourt Order have been delivered to the Registrar of Companies for registrationon Monday 3 September 2007 and, in the case of the Reduction Court Order, havebeen registered by him. At that time the merger between First Choice and thetravel and tourism division of TUI AG, excluding certain hotel assets, will becompleted. Indicative timetable The indicative timetable for implementation of the Merger is currently expectedto be as follows: Last day of dealings in First Choice Shares 31 August 2007 Scheme Record Time 6.00 p.m. on 31 August 2007 Cancellation of listing of First Choice Shares 8.00 a.m. on 3 September 2007 Scheme Effective Date 3 September 2007 Completion of the Merger 3 September 2007 Expected date of Admission and commencement of dealings in TUI Travel Shares 3 September 2007 CREST accounts expected to be credited with TUI Travel Shares on or around 3 September 2007 Latest date for despatch of definitive certificates for TUI Travel Shares in certificated form 17 September 2007 Capitalised terms used but not defined in this announcement have the samemeaning as given to them in the circular to shareholders dated 29 June 2007. Enquiries: Jessica Rouleau / Amy Faulconbridge +44 (0)207 796 4133 Hudson Sandler END This information is provided by RNS The company news service from the London Stock Exchange