Ascential PLC has announced the publication of the Scheme Document, which outlines the recommended cash offer by Informa PLC for the entire issued and to be issued share capital of Ascential. The Scheme Document includes a letter from the Chair of Ascential, an explanatory statement, the full terms and conditions of the Scheme, an expected timetable of principal events, notices of the Court Meeting and the General Meeting, and details of the actions to be taken by Ascential Shareholders. Ascential Shareholders will receive hard copies of the Scheme Document and Forms of Proxy for the Court Meeting and the General Meeting.
In order for the Scheme to become effective, the requisite majority of Scheme Shareholders must vote in favor of the Scheme at the Court Meeting, and Ascential Shareholders must vote in favor of the Scheme Resolution at the General Meeting. Additionally, Ascential Shareholders will be asked to approve the Re-Registration Resolution at the General Meeting, although it is not a condition to the Acquisition.
The Court Meeting and the General Meeting are scheduled to be held on 4 September 2024 at 2:00 p.m. and 2:15 p.m. (U.K. time) respectively, at 2nd Floor, 81-87 High Holborn, London, WC1V 6DF. Ascential Shareholders are encouraged to submit proxy appointments and instructions for the meetings as soon as possible.
The Scheme is expected to become effective during Q4 2024, subject to the approval of the requisite majority of Scheme Shareholders at the Court Meeting, the requisite majority of Ascential Shareholders at the General Meeting, and the satisfaction of other conditions, including the sanction of the Court. Further announcements will be made through a Regulatory Information Service and will be available on Ascential's and Informa's websites.