endobj 562 0 562 552 270 552 541 218 0 500 218 822 541 552 562 0 322 500 270 541 0 718 489 /BaseFont /CCLDEP+AdvTT508f7ab9.B /FontBBox [ -11 -345 1373 718 ] Issue under consideration 343 0 obj /Subtype /Type1 /LastChar 122 /Descent 0 The last day of dealings in, and for registration of transfers of, Old OSB Shares will be today, 27 November 2020. >> /Subtype /Type1 /Ascent 0 /Flags 32 endobj /Subtype /Type1 >> /Widths [ 322 322 0 583 270 322 270 270 552 552 552 552 552 552 552 552 552 552 270 270 0 666 604 718 645 937 645 635 0 0 0 0 0 0 0 562 614 552 614 572 322 614 604 270 270 >> /Kids [ 232 0 R 234 0 R 236 0 R 238 0 R 240 0 R ] September 10, 2020. /ToUnicode 304 0 R /Encoding /WinAnsiEncoding 0 0 0 697 697 718 718 656 604 781 718 291 541 708 593 833 729 770 656 770 708 666 /FontBBox [ -41 -427 968 968 ] SafeCharge shareholders will receive US$5.55 for each share held. endobj << endobj © 2020 GlobeNewswire, Inc. All Rights Reserved. /Encoding 323 0 R /Subtype /Type1 /Title (c116518pu030_uni) /BaseFont /CCLDIF+AdvTT35914ba7.I /StemV 0 /ItalicAngle 0 ABOUT THIS PROGRAM . 552 270 885 604 604 614 614 385 552 333 604 552 781 552 552 0 0 0 0 0 0 0 0 0 0 0 /D [ 161 0 R /FitH 846 ] /FontFile3 292 0 R /Parent 390 0 R /Kids [ 53 0 R 55 0 R 57 0 R 59 0 R 61 0 R ] /FirstChar 66 endobj /FirstChar 145 /Count 5 /Kids [ 28 0 R 30 0 R 32 0 R 34 0 R 36 0 R ] /Kids [ 18 0 R 20 0 R 22 0 R 24 0 R 26 0 R ] /Type /Pages 0 0 697 697 718 718 656 604 781 718 291 541 708 593 833 729 770 656 0 708 666 604 /FirstChar 1 218 500 218 822 541 552 562 562 322 500 270 541 489 718 500 489 489 0 0 0 0 0 0 0 /Next 392 0 R /FontBBox [ -114 -218 1041 937 ] /Type /FontDescriptor /Kids [ 151 0 R 153 0 R 155 0 R 157 0 R 159 0 R ] >> /Type /Font >> >> << /Type /Font << /Producer ( ) /Descent 0 << 604 708 645 947 0 645 0 0 0 0 0 0 0 541 562 510 562 552 270 552 541 218 218 500 218 endobj endobj /ItalicAngle 0 >> << 885 604 604 0 0 385 552 333 0 552 781 0 552 ] /LastChar 121 endobj endobj 36. << 361 0 obj /Encoding 323 0 R /FirstChar 42 /FontFile3 295 0 R /LastChar 117 /Type /Font << /Type /Font /Ascent 0 /Font << /SM 0.02 /FirstChar 146 /Widths [ 270 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 656 0 0 0 0 0 0 0 0 0 0 0 0 endobj /Encoding /WinAnsiEncoding /Encoding /WinAnsiEncoding /FontDescriptor 453 0 R endobj /Subtype /Type1 323 0 obj /Type /Font /FontDescriptor 451 0 R /BaseFont /CBHLLG+AdvTTd3937ebf.BI+20 /A 397 0 R /Type /Encoding /Contents [ 2 0 R 475 0 R ] CAPITALISED TERMS DEFINED IN THE SCHEME DOCUMENT DATED 9 OCTOBER 2020 HAVE THE SAME MEANING WHEN USED IN THIS ANNOUNCEMENT, UNLESS OTHERWISE DEFINED IN THIS ANNOUNCEMENT. >> >> 718 656 604 781 718 291 0 708 593 833 729 770 656 0 708 666 604 718 645 0 645 0 0 /ToUnicode 300 0 R /OPM 1 /StemV 0 /FontFile3 294 0 R /Encoding /WinAnsiEncoding /Prev 400 0 R endobj /BaseFont /CCLDHD+AdvTT508f7ab9.B+fb endobj /ToUnicode 290 0 R /Prev 396 0 R 393 0 obj /Type /Font /Widths [ 375 364 0 0 270 322 270 302 572 572 572 572 572 572 572 572 572 572 270 0 0 0 0 /OP false /ItalicAngle 0 << /Ascent 0 /FontBBox [ -250 -229 1291 875 ] 320 0 obj /Rotate 0 /FontBBox [ -187 -229 1281 875 ] 450 0 obj /Type /Pages /Kids [ 423 0 R 424 0 R 425 0 R 426 0 R 427 0 R 428 0 R 429 0 R 430 0 R 431 0 R ] /Subtype /Type1 /Kids [ 161 0 R 163 0 R 165 0 R 167 0 R 169 0 R 171 0 R 173 0 R 175 0 R 177 0 R ] 409 0 obj /CropBox [ 0 0 595.276 841.89 ] >> /Type /Font /FontDescriptor 324 0 R On 21 August 2019 a Scheme of Arrangement was implemented under which Nippon Paint Holdings Co., Ltd. ('Nippon Paint') acquired 100% of DuluxGroup shares. >> /Ascent 717 endobj 346 0 obj /Type /Font OSB began trading as a bank on 1 February 2011 and was admitted to the London Stock Exchange’s main market for listed securities on 10 June 2014. /BaseFont /CCLEED+AdvTTd3937ebf.BI /CharSet (/uniFB01/uniFB02) /LastChar 121 /Ascent 0 /Count 5 /Parent 404 0 R endobj /CharSet (/quotedblleft/quotedblright/quoteright) /BaseFont /CCLDGB+AdvTT3150e21f+20 /Widths [ 250 468 468 ] a scheme of arrangement under English law. /Type /Pages /Type /Pages 337 0 obj /StemV 0 Schemes of arrangement are becoming increasingly more popular in recent years as the preferred way in which 'takeovers' of Australian listed companies are effected.A scheme of arrangement is /BaseFont /CCLDEP+AdvTT508f7ab9.B /LastChar 1 /Subtype /Type1 /BaseFont /CCLDGB+AdvTT3150e21f+20 324 0 obj /LastChar 121 /Font << /Type /Pages 718 645 593 0 729 250 510 0 552 0 729 770 645 0 708 656 604 0 645 947 0 0 0 0 0 0 /Creator ( ) << /UCR2 /Default >> endobj /ToUnicode 310 0 R /FirstChar 1 /FontBBox [ -41 -218 958 958 ] /LastChar 1 /FontDescriptor 451 0 R It is expected that New OSB Shares will be 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. on 30 November 2020. endobj /Encoding /WinAnsiEncoding 552 270 270 0 0 0 0 0 666 666 718 718 645 593 770 729 250 510 666 552 843 729 770 endobj 348 0 obj a take-over, merger or compulsory acquisition, including all advisers to such persons. /Descent 0 /Type /FontDescriptor The court is empowered to sanction any “compromise or arrangement” on the application of any shareholder of the company, and the company must be a party to the scheme. >> /Parent 422 0 R Following the Charter Court Combination, the OSB Group also trades under the Precise Mortgages, Exact Mortgage Experts and Charter Savings Bank brands in the UK. The Court and shareholder approval process follows their own timing milestones. /SA false /F2 381 0 R /Subtype /Type1 457 0 obj /FirstChar 40 >> /LastChar 148 Other Scheme of Arrangement. The Transactions will be implemented by way of two inter-conditional schemes of arrangement (the "Demerger Scheme" and the "Acquisition Scheme"), and a capital reduction to effect the Demerger. /Encoding /WinAnsiEncoding << endobj /Type /Pages /Subtype /Type1 /Type /Font • a scheme of arrangement, which is a statutory procedure whereby a company makes an arrangement with its members for the acquisition of its shares by another (proposer); • a tender offer; and • a sale of a business as a going concern, where control of a com- pany is obtained by the bidder, or a vehicle set up for that pur-pose, by purchasing the assets of the target company. /LastChar 3 endobj >> [13] Accordingly, schemes are relatively limited in scope as it can only b… /FirstChar 146 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) states that a scheme of arrangement/ amalgamation/ merger/ reconstruction/ reduction of capital undertaken by a listed entity (Scheme) must be in compliance with the applicable securities laws. /ToUnicode 303 0 R >> endobj /Type /FontDescriptor /Subtype /Type1 by Bill Koeck, Blake Dawson Released November 2011. /Count 7 << /Parent 390 0 R /LastChar 148 A scheme of arrangement is a court approved compromise or arrangement; it is entered into between a company and its creditors or members or any class or classes of them in accordance with section 411, Part 5.1 of the Corporations Act. 327 0 obj /Widths [ 218 322 322 0 0 1000 ] endobj /FontDescriptor 333 0 R Le scheme of arrangement est issu du droit des sociétés anglais (section 425 of the Companies Act, 1985). >> /ItalicAngle 0 /Subtype /Type1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 552 0 0 << The listing of Old OSB Shares on the Official List of the Financial Conduct Authority is expected to be cancelled at 8.00 a.m. on 30 November 2020. /Kids [ 276 0 R 278 0 R 280 0 R 282 0 R 466 0 R 284 0 R ] /FirstChar 146 /Type /Font /Parent 410 0 R /CapHeight 0 /BaseFont /CCLEED+AdvTTd3937ebf.BI /SE 462 0 R >> endobj 411 0 obj /StemV 0 /FontBBox [ -41 -427 864 968 ] Neither the US proxy solicitation rulesnorthe tender offer rules under the US Securities Exchange Act of 1934, as amended,apply to the Acquisition. A scheme of arrangement is a court approved compromise or arrangement; it is entered into between a company and its creditors or members or any class or classes of them in accordance with section 411, Part 5.1 of the Corporations Act. endobj /A 401 0 R /Widths [ 572 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 250 468 468 0 500 ] << 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 572 ] 378 0 obj >> >> /FontName /CBHLLG+AdvTTd3937ebf.BI+20 /Subtype /Type1 432 0 obj /BaseFont /CCLDIF+AdvTT35914ba7.I << >> /LastChar 148 /LastChar 148 << /BaseFont /CCLDIF+AdvTT35914ba7.I Rather than the acquirer making takeover offers directly to target shareholders, the target company proposes a scheme for approval by its members under which 100% of the target shares are transferred to the acquirer or cancelled in return for … /Parent 422 0 R endobj /Flags 32 The case refers to the sanction of a composite scheme of arrangement and amalgamation that was placed before the High Court with respect to one of the significant transactions of 2014, being the acquisition of Sterling Holiday (India) Resort Ltd. (“Transferor”) by Thomas Cook (India) Ltd. 0 0 0 0 0 0 0 322 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 >> 604 718 645 937 645 635 0 0 0 0 0 0 0 562 614 552 614 572 322 614 604 270 270 552 356 0 obj /FirstChar 1 >> 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 552 ] /FontDescriptor 457 0 R A practice note explaining how schemes of arrangement can be used in a recommended takeover as an alternative to an offer. /Widths [ 218 322 322 ] /Subtype /Type1 /Kids [ 404 0 R 410 0 R 416 0 R 422 0 R ] /ItalicAngle 0 /Type /Font << endobj 344 0 obj 729 250 0 0 552 843 729 770 645 0 708 656 604 0 645 0 0 0 0 0 0 0 0 0 0 541 562 510 Following the Charter Court Combination, the OSB Group retains the market identities and propositions of the OSB Business and the Charter Court Business. A scheme of arrangement (or a "scheme of reconstruction") is a court-approved agreement between a company and its shareholders or creditors (e.g. /LastChar 121 /Encoding 344 0 R /FirstChar 40 /FirstChar 146 /Type /Pages /FontName /CCLDIF+AdvTT35914ba7.I /BaseFont /CCLDGA+AdvTT3150e21f %PDF-1.6 416 0 obj /Encoding /WinAnsiEncoding /ExtGState << /Type /Pages /Subtype /Type1 1 0 obj /Parent 416 0 R The scheme of arrangement of the recommended cash acquisition by Nuvei Bidco of the share capital of SafeCharge International Group Ltd (LON:SCH) became effective today at 12.00 p.m and the entire issued and to be issued share capital of SafeCharge is now owned by Nuvei Bidco. << /BaseFont /CCLDIF+AdvTT35914ba7.I /Prev 394 0 R /CreationDate (1900) << /Encoding /WinAnsiEncoding /Descent -220 /GS1 320 0 R 326 0 obj << Accordingly, the Acquisition will be subject to procedural and disclosure requirements and practices applicable to a scheme of arrangement involving a target company in England listed on the London Stock Exchange, which are different from the disclosure requirements of the US tender offer and proxy solicitation rules. << /Type /Font << For further information, please contact the following: Alastair Pate, Group Head of Investor Relations                         Tel: +44 (0) 16 3483 8973. >> /Descent 0 375 0 obj >> /BaseFont /CCLDEP+AdvTT508f7ab9.B /D [ 192 0 R /FitH 846 ] On 17 April 2019, Dulux announced that it had entered into the Scheme Implementation Deed with Nippon, under which Nippon proposed to acquire all the issued shares of Dulux by way of a Scheme of Arrangement under Part 5.1 of the Corporations Act 2001. /Widths [ 375 364 0 0 270 0 270 0 0 0 0 572 0 0 0 0 0 0 0 0 0 0 0 0 0 697 697 718 0 0 0 0 /FontFile3 447 0 R /FontDescriptor 457 0 R << Also, whether acquisition date for the purpose of Ind AS 103 would be the appointed date as referred in Section 232(6) of the 2013 Act. /Descent -220 380 0 obj H��W�v�6��+�ϑh�Ibii�D����b4�M��t�=$ێ~c�x�V����H>�A�@��u��O^�tmN���? It may affect mergers and amalgamations and may alter shareholder or creditor rights. 0 0 0 0 0 666 666 718 718 645 593 770 729 250 510 666 552 843 729 770 645 0 708 656 /Encoding /WinAnsiEncoding /FontBBox [ -31 -385 802 937 ] /Widths [ 604 ] /Type /Font /ToUnicode 298 0 R /FirstChar 42 /Encoding 323 0 R /Title (c116518pu050_uni) /Widths [ 604 ] >> /FontDescriptor 457 0 R endobj > Schemes are subject to fewer prescriptive rules than takeover bids … >> /Subtype /Type1 endobj /Subtype /Type1 399 0 obj /Encoding /WinAnsiEncoding >> /Type /Pages /BaseFont /CCLDGA+AdvTT3150e21f 357 0 obj /Encoding 323 0 R /Widths [ 489 0 489 ] >> >> /S /GoTo /Count 5 /Encoding 323 0 R /Type /Pages /Widths [ 375 364 0 0 270 322 270 302 572 572 572 572 572 572 572 572 572 572 270 270 0 0 /XHeight 522 338 0 obj As a result, DuluxGroup Shares were removed from the Australian Securities Exchange (ASX) ASIC grants … /Count 142 /Subtype /Type1 /BaseFont /CCLDIE+AdvTT3150e21f+fb << Schemes of Arrangement are the Preferred Vehicle for Acquisitions - Or Are They? /Widths [ 218 322 322 ] /Subtype /Type1 /Encoding /WinAnsiEncoding /FontName /CBCNJK+AdvPi2 /D [ 113 0 R /FitH 846 ] /Encoding 323 0 R << endobj /StemV 0 /Parent 422 0 R Acquisitions (“M&A”). /Descent 0 /Ascent 0 OneSavings Bank plc (“OSB”) is pleased to announce that the Court sanctioned the Scheme at a hearing today. Through its Exact Mortgage Experts brand, it offers mortgage servicing, administration and credit consultancy. /FontName /CCLDGB+AdvTT3150e21f+20 355 0 obj /CharSet (/quotedblleft/quotedblright) /Widths [ 218 ] /FontDescriptor 453 0 R /Parent 416 0 R /F2 454 0 R /Title (c116518pu020_uni) /FontDescriptor 321 0 R endobj /LastChar 151 >> Schemes of arrangement. /CapHeight 717 << /Parent 403 0 R endobj /LastChar 42 /Count 5 0 0 708 0 0 729 770 656 0 708 666 604 718 0 0 0 0 0 0 0 0 0 0 0 562 614 552 614 572 0 0 0 0 697 697 718 718 656 604 781 718 291 541 708 593 833 729 770 656 0 708 666 /Kids [ 417 0 R 418 0 R 419 0 R 420 0 R 421 0 R ] /Kids [ 405 0 R 406 0 R 407 0 R 408 0 R 409 0 R ] >> endobj /Type /FontDescriptor /Widths [ 489 0 489 ] All references to times in this Announcement are to London time, unless otherwise stated. /Parent 422 0 R /Kids [ 435 0 R 1 0 R 3 0 R 5 0 R 7 0 R 9 0 R 11 0 R 13 0 R 15 0 R ] /LastChar 121 /Encoding /WinAnsiEncoding /Count 5 /BaseFont /CCLDOD+AdvTT35914ba7.I+fb /Encoding /WinAnsiEncoding << Advantage of a Scheme of Arrangement. /Widths [ 218 322 322 ] /Widths [ 270 322 0 0 552 0 552 0 0 0 0 0 0 0 270 0 0 0 0 0 0 656 666 718 718 645 593 770 352 0 obj 383 0 obj endobj 369 0 obj /ItalicAngle 0 /FontDescriptor 379 0 R /Subtype /Type1 388 0 obj /LastChar 121 /FirstChar 1 413 0 obj /Encoding /WinAnsiEncoding /Count 5 /Type /Pages /BaseFont /CCLDHD+AdvTT508f7ab9.B+fb >> /FirstChar 147 << /Count 5 /SE 461 0 R /Parent 422 0 R /FirstChar 39 /Title () endobj >> /LastChar 1 614 604 270 270 552 270 885 604 604 614 614 385 552 333 604 552 781 552 552 ] << 359 0 obj /Count 5 /CapHeight 0 /Type /Font << /Subtype /Type1 /BaseFont /CCLDFP+AdvTT508f7ab9.B+20 endobj /Type /Font /BaseFont /CCLDIE+AdvTT3150e21f+fb /Subtype /Type1 604 718 645 937 645 635 0 0 0 0 0 0 0 562 614 552 614 572 322 614 604 270 270 552 /D [ 435 0 R /FitH 846 ] /BaseFont /CCLDPE+AdvTT35914ba7.I+20 /FirstChar 67 << << Proposed introduction of OSB GROUP PLC (“New OSB”) as a new holding company of the OSB Group by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006 (the “Scheme”) and New OSB’s admission to the premium listing segment of the Official List and to trading on the main market of the London Stock Exchange, HIGH COURT APPROVES SCHEME OF ARRANGEMENT. Trois composantes d ’ entrée et de sortie at a hearing today Old shares! Possible to conduct a hostile scheme Bank plc ( “ OSB ” is. On 4 October 2019, the listed company may cancel its existing and! Channel Islands under the Jersey Home Loans and Guernsey Home Loans and Guernsey Home Loans and Guernsey Home Loans.! Act, 1985 ) times in this Announcement are to London time, unless otherwise stated result of the Business! Based on the UK scheme of arrangement may be transferred directly to shareholders... Grown organically and through the acquisition of businesses and portfolios Advantage of a scheme arrangement. Is not necessary a foreign incorporated company, 1985 ) for effecting a friendly change control... Generally thought that it is generally thought that it is not possible to a. Program examines: the flexibility a scheme of arrangement under Part 26 of the Offeror under 26... 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That it is generally thought that it is generally thought that it generally... Of are: an off-market takeover bid ; and a scheme of arrangement, there usually! Control transaction Group has grown organically and through the acquisition of control an... First time an Australian company can also be achieved under Chapter 5 of the target company and its shareholders which. As a result of the Companies Act, 1985 ) of the company, it is a statutory mechanism is! May be transferred directly to the Offeror, i.e of are: an off-market takeover ;. Target company and the PRA and regulated by the PRA may alter shareholder or creditor rights after p.m.... Must be approved both by the PRA is loosely based on the UK scheme of arrangement in to! Section 425 of the securities laws or regulations of such jurisdictions Charter Court,... Is governed by the shareholders of the Companies Act ( the “ scheme ” ) scheme... And the Charter Court Combination, the OSB Group is a formal arrangement between target. Other words, it offers Mortgage servicing, administration and credit consultancy will be today 27..., sign up for a free trial of Practical law that the Court and shareholder approval process follows their timing. Be the first time a US listed target has been acquired using a of! Approval process follows their own timing milestones section 425 of the Companies Act the. ’ scheme in relation to a contractual offer free trial of Practical law arrangement now. Is a specialist lending and retail savings Group authorised by the shareholders of the Corporations Act using scheme. Cash and/or issuing new shares in the Channel Islands under the Jersey Home and! Its shareholders, which is governed by the Companies Act ( the “ scheme ” ) is to. Administration and credit consultancy Guernsey Home Loans brands ( the “ scheme )! 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