TP ICAP plc (TP ICAP) and TP ICAP Group plc (New TP ICAP) today provided an update on corporate reorganization.
The companies announce that the Court Order relating to the Scheme and the related TP ICAP Statement of Capital have now been delivered to the Registrar of Companies in England and Wales. Accordingly, the Scheme has become effective today and New TP ICAP is now the holding company of the Group.
Under the Scheme, TP ICAP Shareholders received one New TP ICAP ordinary share for each TP ICAP ordinary share held at the scheme record time. Now, the total issued ordinary share capital of New TP ICAP is 788,670,932 ordinary shares of 25 pence each.
New TP ICAP also confirms that the listing of the TP ICAP Ordinary Shares on the Official List was cancelled and the TP ICAP Ordinary Shares ceased to be admitted to trading on the London Stock Exchange’s main market for listed securities with effect from 8.00 a.m. Today.
The New TP ICAP Ordinary Shares have a nominal value of 25 pence each and have been admitted to the premium listing segment of the Official List and to trading on the London Stock Exchange’s main market for listed securities at 8.00 a.m. today. The Group understands that New TP ICAP will remain eligible for inclusion in the FTSE UK Index series.
TP ICAP will re-register as a private limited company and change its name to “TP ICAP Limited” in due course.