Representation of Informa Plc [2014] JRC 120C (29 May 2014)

Representation of Informa Plc [2014] JRC 120C (29 May 2014)

The scheme of arrangement and share capital reduction comply with statutory requirements, are fair and reasonable for shareholders, and do not prejudice creditors; court sanctions the scheme and reduction.

Citation
[2014] JRC 120C
Parties
Applicant: Informa Plc; Affected Class: Shareholders of Informa Plc
Jurisdiction
Jersey
Judgment Date
29 May 2014
Procedural Posture
Scheme of Arrangement Sanction Application / Post Shareholder Meeting, Court Sanction
Outcome
scheme sanctioned, reduction of share capital approved
Legal Topics
Scheme of Arrangement, Share Capital Reduction, Tax Residence Change
Corporate Law Tax Law Scheme of Arrangement Share Capital Reduction Tax Residence Change

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Parties

Informa Plc

Applicant

Shareholders of Informa Plc

Affected Class

Procedural Posture

Scheme of Arrangement Sanction Application / Post Shareholder Meeting, Court Sanction

Legal Issues

  1. 1 Whether the statutory requirements for a scheme of arrangement under Article 125 of the Companies (Jersey) Law 1991 have been complied with
  2. 2 Whether the class of shareholders was fairly represented and the statutory majority acted bona fide
  3. 3 Whether the scheme is reasonable for shareholders

Ratio Decidendi

The scheme of arrangement and share capital reduction comply with statutory requirements, are fair and reasonable for shareholders, and do not prejudice creditors; court sanctions the scheme and reduction.

Court Disposition

scheme sanctioned, reduction of share capital approved

Orders

  • scheme of arrangement approved
  • reduction of share capital sanctioned