StockMarketWire.com - Northumbrian Water Group has announced that the High Court of Justice of England and Wales has sanctioned the scheme of arrangement to effect the recommended proposal for the acquisition of Northumbrian by UK Water (2011).

In order for the scheme to become effective in accordance with its terms, the Court must confirm the Reduction of Capital at the Reduction Court Hearing which is scheduled to take place on 13 October 2011. The Scheme is then expected to become effective on 14 October 2011.

The last day of dealings in, and for the registration of transfers of, Northumbrian Shares on the London Stock Exchange will be 12 October 2011 and, from 5:00 p.m. on 12 October 2011, the trading of Northumbrian Shares on the London Stock Exchange will be suspended.

An application has also been made to the UK Listing Authority requesting the cancellation of the listing of Northumbrian Shares on the Official List as well as trading of Northumbrian Shares on the London Stock Exchange's main market for listed securities at 8:00am on 14 October 2011, subject to confirmation of the Reduction of Capital.

Upon the scheme becoming effective, holders of scheme shares will be entitled to receive 465p for each scheme share held by them.






At 11:20am: [LON:NWG] Northumbrian Water Group share price was +0.45p at 464.05p



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