Business and technology service group Logica, whose shares were suspended on Monday morning, has confirmed that the capital reduction required to complete its takeover by Canadian group CGI by way of scheme of arrangement has now been confirmed by the court.
As such, the firm's shares will be de-listed from trading in London and Amsterdam this Friday.
It was announced on July 16th that Logica's shareholders had voted 99.54% in favour of the sale, valued at £1.7bn, first announced in May.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Holders of the scheme shares who appeared on the Logica register of members at 18:00 on July 17th will be entitled to receive 105p in cash per scheme share held.
"The delisting of Logica Shares and the cancellation of admission to trading of Logica Shares on the London Stock Exchange and Euronext Amsterdam is expected to take place at 8.00 a.m. (UK time) on 24 August 2012," the firm said.
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
