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Court sanction of Scheme

Date : 01/26/2012 @ 11:10AM
Source : UK Regulatory (RNS & others)
Stock : Hamworthy (HMY)
Quote : 824.0  0.0 (0.00%) @ 12:00AM
Hamworthy share price Chart

Court sanction of Scheme

TIDMHMY

RNS Number : 2602W

Hamworthy plc

26 January 2012

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

 
 Press Release   26 January 2012 
 

Hamworthy plc

("Hamworthy" or the "Group")

Recommended Acquisition of Hamworthy plc ("Hamworthy")

by Wartsila Technology Oy Ab ("Wartsila"), a wholly-owned subsidiary of

Wartsila Corporation (the "Acquisition")

Court sanction of Scheme

The directors of Hamworthy and Wartsila are pleased to announce that the High Court of Justice (the "Court") has today made an order sanctioning the Scheme of Arrangement by which Wartsila's Acquisition of Hamworthy is being implemented.

In order for the Scheme to become effective in accordance with its terms, the Court will now need to confirm the associated Reduction of Capital at the Reduction Court Hearing. This hearing will take place on 30 January 2012. It is expected that dealings in Hamworthy Shares will be suspended at 7.30 a.m. on 30 January 2012 and the Scheme will become Effective on 31 January 2012.

A detailed timetable of events for the Scheme is set out in the scheme document dated 13 December 2011 (the "Scheme Document").

Terms defined in the Scheme Document shall have the same meaning(s) when used in this announcement.

In accordance with Rule 2.10 of the Code, Hamworthy confirms that it has 46,726,848 ordinary shares of 5 pence each in issue and admitted to trading on the London Stock Exchange under the UK ISIN code GB00B01VFV79.

For further information:

 
 Hamworthy plc 
 Joe Oatley, Chief Executive       Tel: +44 (0) 1202 
                                             662 662 
 Paul Crompton, Finance Director   www.hamworthy.com 
 Graham Lockyer, Head of IR 
 
 
 Hawkpoint Partners Limited 
  (Financial adviser to Hamworthy) 
 Christopher Kemball                 Tel: +44 (0) 20 7665 
                                                     4500 
 Colin Christie                         www.hawkpoint.com 
 Robin Sturken 
 
 
 Numis (Broker to Hamworthy) 
 Christopher Wilkinson         Tel: +44 (0) 20 7260 
                                               1000 
 Ben Stoop 
 
 
 Abchurch (Public relations adviser to 
  Hamworthy) 
 Henry Harrison-Topham / Quincy Allan      Tel: +44 (0) 20 7398 
                                                           7702 
 henry.ht@abchurch-group.com             www.abchurch-group.com 
 
 
 Wartsila 
 Atte Palomaki, Group Vice President,   Tel: +358 10 709 
  Communications & Branding                         5219 
 Pauliina Tennila, Director, Investor   Tel: +358 40 570 
  Relations                                         5530 
 
 
 UBS Investment Bank (Financial adviser   Tel: +44 (0) 20 7567 
  to Wartsila)                                            8000 
 Eero Ehrnrooth 
 Jonathan Rowley 
 Thomas Onions 
 
 
 Tulchan (Public relations adviser to 
  Wartsila) 
 Stephen Malthouse / Martha Kelly       Tel: +44 (0) 20 7353 
                                                        4200 
 

Hawkpoint, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively as financial advisor to Hamworthy and no one else in connection with the Acquisition and will not be responsible to anyone other than Hamworthy for providing the protections afforded to customers of Hawkpoint nor for providing advice in relation to the Acquisition or any other matter referred to in this document.

Numis, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Hamworthy and no one else in connection with the Acquisition and will not be responsible to anyone other than Hamworthy for providing the protections afforded to the customers of Numis nor for providing advice in relation to the Acquisition or any other matter referred to in this document.

UBS is exclusively acting for Wartsila and Wartsila Corporation and no one else in connection with the Acquisition and will not be responsible to anyone other than Wartsila and Wartsila Corporation for providing the protections offered to clients of UBS nor for providing advice in relation to the Acquisition or the contents of this or any transaction or arrangement referred to herein.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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