NXG.L

NEX Group plc
NEX Group PLC - Court Sanction of the Scheme of Arrangement
1st November 2018, 11:16
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RNS Number : 9273F
NEX Group PLC
01 November 2018
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

1 November 2018

RECOMMENDED ACQUISITION

 

OF

 

NEX GROUP PLC ("NEX")

 

BY

 

CME LONDON LIMITED ("BIDCO")

 

AND

 

CME GROUP INC. ("CME")

 

 COURT SANCTION OF THE SCHEME OF ARRANGEMENT

 

The boards of NEX and CME are pleased to announce that the High Court of Justice in England and Wales has today sanctioned the scheme of arrangement pursuant to Part 26 of the Companies Act 2006 (the "Scheme") by which the recommended acquisition of NEX by Bidco and CME is being implemented.

The Scheme will become effective upon a copy of the Court order being delivered to the Registrar of Companies of England and Wales, which is expected to take place on 2 November 2018.

Applications have been made to the London Stock Exchange and the UK Listing Authority in relation to the de-listing of NEX Shares from the Official List and the cancellation of the admission to trading of NEX Shares on the Main Market of the London Stock Exchange and, subject to the Scheme becoming effective, these are expected to take effect on 5 November 2018.

 

Unless otherwise defined, all capitalised terms in this announcement shall have the meaning given to them in the scheme document published on 25 April 2018 (the "Scheme Document").

 

Enquiries:

NEX Group plc


Alex Dee, Head of Investor Relations

+44 (0) 207 050 7420

Bryony Bushnell, Head of Media Relations

+44 (0) 207 818 9689

Citigroup Global Markets Limited (joint lead financial adviser and corporate broker to NEX)

Piers Davison

+44 (0) 207 986 4000

Jan Skarbek


Peter Brown (Corporate Broking)


Evercore Group L.L.C. (joint lead financial adviser to NEX)

Jane Gladstone

+1 212 857 3100

Edward Banks

+44 (0) 207 653 6000

Dave Cox


Maitland (PR adviser to NEX)


Neil Bennett

+44 (0) 207 379 5151

Sam Turvey

+44 (0) 207 379 5151



CME


Anita Liskey (Media contact)

+1 312 466 4613

Laurie Bischel (Media contact)

+1 312 648 8698

John Peschier (Investor Relations)

+1 312 930 8491

J.P. Morgan (Lead financial adviser to CME and financial adviser to Bidco)

Anu Aiyengar

+1 888 963 5089

Jeremy Capstick

+44 (0) 20 7742 4000

Dwayne Lysaght


Adam Laursen


Barclays (Financial adviser to CME)


Joel Fleck

+1 212 526 7000

Edelman (PR adviser to CME)


John Kiely

+44 (0) 203 047 2538

Alex Simmons

+44 (0) 203 047 2543

 

Goldman Sachs International is also acting as a financial adviser to NEX, and Merrill Lynch International ("BofA Merrill Lynch") is acting as corporate broker to NEX. Clifford Chance LLP are retained as legal advisers to NEX.  Skadden, Arps, Slate, Meagher & Flom are retained as legal advisers to CME.

Important notices

This announcement is for information purposes only and is not intended to and does not constitute, or form any part of, an offer to sell or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Acquisition or otherwise. This announcement does not constitute a prospectus or a prospectus equivalent document.

Citigroup Global Markets Limited ("Citi"), which is authorised by the PRA and regulated in the United Kingdom by the FCA and the PRA, is acting as joint lead financial adviser to NEX and for no one else in connection with matters set out in this announcement and will not be responsible to anyone other than NEX for providing the protections afforded to its clients or for providing advice in relation to matters set out in this announcement.

Evercore Group L.L.C. ("Evercore LLC"), which is a securities broker-dealer registered with the SEC and subject to regulation by the SEC and the Financial Industry Regulatory Authority ("FINRA"), together with its affiliate Evercore Partners International LLP who is providing independent financial advice to the NEX Directors for the purposes of Rule 3 of the Takeover Code ("EPI LLP") (together with Evercore LLC, "Evercore"), which is authorised and regulated in the United Kingdom by the FCA, are acting as joint lead financial adviser for NEX and no one else in connection with matters set out in this announcement, and will not be responsible to anyone other than NEX for providing the protections afforded to clients of Evercore or for providing advice in relation to matters referred to in this announcement. Neither Evercore nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract or in tort, under statute or otherwise) to any person who is not a client of Evercore in connection with this announcement, any statement contained therein or otherwise. Apart from the responsibilities and liabilities, if any, which may be imposed on Evercore by FSMA, or the regulatory regime established thereunder, or under the regulatory regime of any jurisdiction where exclusion of liability under the relevant regulatory regime would be illegal, void or unenforceable, neither Evercore nor any of its affiliates accepts any responsibility or liability whatsoever for the contents of this announcement, and no representation, express or implied, is made by it, or purported to be made on its behalf, in relation to the contents of this announcement, including its accuracy, completeness or verification of any other statement made or purported to be made by it, or on its behalf, in connection with NEX or the matters described in this announcement. To the fullest extent permitted by applicable law, Evercore and its affiliates accordingly disclaim all and any responsibility or liability whether arising in tort, contract or otherwise (save as referred to above) which they might otherwise have in respect of this announcement or any statement contained therein.

Goldman Sachs International, which is authorised by the PRA and regulated by the FCA and the PRA in the United Kingdom, is acting exclusively for NEX and no one else in connection with the Acquisition and will not be responsible to anyone other than NEX for providing the protections afforded to clients of Goldman Sachs International or for providing advice in connection with the Acquisition or the matters described in this announcement or any transaction or arrangement referred to herein.

BofA Merrill Lynch, a subsidiary of Bank of America Corporation, is authorised by the PRA and regulated by the FCA and the PRA in the U.K. BofA Merrill Lynch is acting exclusively as corporate broker to NEX and no one else in connection with the Acquisition and shall not be responsible to anyone other than NEX for providing the protections afforded to clients of BofA Merrill Lynch nor for providing advice in relation to such matters.

J.P. Morgan Securities LLC, together with its affiliate J.P. Morgan Securities plc (which conducts its U.K. investment banking business as J.P. Morgan Cazenove and which is authorised in the United Kingdom by the Prudential Regulation Authority (the "PRA") and regulated in the United Kingdom by the PRA and the Financial Conduct Authority) ("J.P. Morgan") is acting exclusively as joint financial adviser for CME and financial adviser to Bidco and no one else in connection with the Acquisition and will not regard any other person as its client in relation to the Acquisition and will not be responsible to anyone other than CME and Bidco for providing the protections afforded to the clients of J.P. Morgan, nor for providing advice in relation to any matter referred to herein.

Barclays Bank PLC, acting through its Investment Bank ("Barclays") (which is authorised in the United Kingdom by the Prudential Regulation Authority (the "PRA") and regulated in the United Kingdom by the PRA and the Financial Conduct Authority) is acting exclusively as joint financial adviser for CME and no one else in connection with the Acquisition and will not be responsible to anyone other than CME for providing the protections afforded to the clients of Barclays, nor for providing advice in relation to any matter referred to herein.

Information for overseas shareholders

Additional information for U.S. shareholders

Forward-looking statements

 

Disclosure Requirements of the Takeover Code

Publication on website

About CME


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