Edited Press Release
LONDON -(Dow Jones)- HBOS announced Friday that the Court has approved the Capital Reduction to effect the recommended Acquisition of HBOS by Lloyds TSB and the Reduction Court Order has been filed with the Registrar of Companies.
Accordingly, the Scheme of Arrangement has become effective in accordance with its terms.
New Lloyds TSB Shares will be issued pursuant to the Scheme of Arrangement at or after 1700 GMT Friday. It is expected that the New Lloyds TSB Shares will be admitted to the Official List and to trading on the London Stock Exchange at 0800 GMT on Jan. 19, it said.
Applications have been made to the U.K. Listing Authority and to the London Stock Exchange respectively requesting the cancellation of the listing of HBOS Shares on the Official List and the cancellation of trading of such securities on the London Stock Exchange.
Cancellation is expected to take place at 8.00 a.m. on Jan. 19, 2009. Capitalised terms used in this announcement shall have the meanings given to them in the Scheme Document dated Nov. 14, 2008, it said.
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