Hargreaves Lansdown Plc, Re

Hargreaves Lansdown Plc, Re

The Scheme satisfies all statutory requirements, was approved by a representative majority of Scheme Shareholders, provides fair and significant consideration, and presents no legal defect; therefore, the Court sanctions the Scheme.

Source-derived case information.

Parties
Applicant: Hargreaves Lansdown Plc; Interested Party: Bidco (Harp Bidco Limited)
Jurisdiction
England and Wales
Judgment Date
18 March 2025
Procedural Posture
Scheme of Arrangement / Sanction Hearing
Outcome
Scheme sanctioned
Legal Topics
Scheme of Arrangement, Share Acquisition, Shareholder Rights, Statutory Compliance
Company Law Corporate Finance Scheme of Arrangement Share Acquisition Shareholder Rights Statutory Compliance

Source-derived case record

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Parties

Hargreaves Lansdown Plc

Applicant

Bidco (Harp Bidco Limited)

Interested Party

Procedural Posture

Scheme of Arrangement / Sanction Hearing

Legal Issues

  1. 1 Whether the statutory requirements for sanctioning a scheme of arrangement under Part 26 Companies Act 2006 are satisfied
  2. 2 Whether the class of shareholders was fairly represented and not coerced
  3. 3 Whether an intelligent and honest shareholder might reasonably approve the scheme

Ratio Decidendi

The Scheme satisfies all statutory requirements, was approved by a representative majority of Scheme Shareholders, provides fair and significant consideration, and presents no legal defect; therefore, the Court sanctions the Scheme.

Court Disposition

Scheme sanctioned

Orders

  • The Scheme of Arrangement is sanctioned pursuant to Part 26 Companies Act 2006.
  • Bidco and related parties are bound by undertakings as set out in the Order and Scheme Recital F.