New Melrose PLC MRO SCHEME EFFECTIVE DATE

  New Melrose PLC (MRO) - SCHEME EFFECTIVE DATE

RNS Number : 0807S
New Melrose PLC
27 November 2012




27 November 2012 

                 

                 

                 

                 

                                 MELROSE PLC

                                     AND

                               NEW MELROSE PLC



    SCHEME EFFECTIVE DATE, CANCELLATION OF OLD MELROSE ORDINARY SHARES AND
        ADMISSION OF NEW MELROSE ORDINARY SHARES TO THE OFFICIAL LIST



Melrose PLC ("Old Melrose") and New Melrose PLC ("New Melrose") announce that
the orders of the Court sanctioning the scheme of arrangement pursuant to
which a new listed holding company was introduced for the Melrose group of
companies (the "Scheme") and confirming the associated reduction of capital
have been delivered to the Registrar of Companies today. The Scheme is
therefore effective today, as a result of which New Melrose is now the holding
company of Old Melrose and its subsidiaries and the Old Melrose Ordinary
Shares have been cancelled. The last day for dealings in the Old Melrose
Ordinary Shares was 26 November 2012.

Scheme Shareholders have received one New Melrose Ordinary Share in place of
each Old Melrose Ordinary Share held by them at 6.00 p.m. on 26 November 2012.
New Melrose Ordinary Shares held in uncertificated form were credited to the
relevant CREST accounts by 8.00 a.m. today. Share certificates in respect of
New Melrose Ordinary Shares held in certificated form are expected to be
despatched to shareholders on 4 December 2012.

The admission of 1,266,627,036 New Melrose Ordinary Shares to listing on the
premium segment of the Official List and the commencement of dealings in New
Melrose Ordinary Shares on the London Stock Exchange's main market for listed
securities were effective from 8.00 a.m. today.

New Melrose has been renamed Melrose Industries PLC today and New Melrose
will commence trading as Melrose Industries PLC with effect from 8 a.m.
tomorrow. As stated in the prospectus published by New Melrose on 12 October
2012 (the "Prospectus"), it was originally intended that New Melrose change
its name to Melrose PLC shortly after the Scheme became effective. However,
due to the way in which the relevant name change regulations are currently
interpreted, this has not proved possible to implement, although discussions
are ongoing which may result in this name change in the near future.

Until such time, New Melrose will be named Melrose Industries PLC, with the
ISIN number of the New Melrose Ordinary Shares being GB00B8L59D51. New Melrose
will have the same ticker symbol as Old Melrose, which will remain as "MRO".

Completion of the New Melrose reduction of capital remains subject to
confirmation thereof by the Court. It is expected that the Court hearing to
confirm the New Melrose reduction of capital will take place tomorrow and that
the New Melrose reduction of capital will become effective on 29 November
2012.

All references in this document to times are to London time unless otherwise
stated

Terms used in this announcement shall have the same meaning as set out in the
Circular to Melrose shareholders dated 12 October 2012 and as set out in the
Prospectus.

                                    -ends-

Enquiries:

M: Communications
Financial PR
Nick Miles/Ann-marie Wilkinson/Andrew Benbow +44 (0) 20 7920 2330





                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


MSCGIBDBCXDBGDR -0- Nov/27/2012 08:42 GMT
 
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