Afterpay securities suspended from ASX quotation
The securities of Afterpay Limited (APT) are suspended from quotation effective the close of trading on Wednesday, 19 January 2022 under Listing Rule 17.2.
This follows lodgement of the Supreme Court of New South Wales orders with ASIC approving the scheme of arrangement by which Lanai (AU) 2 Pty Ltd, a wholly owned indirect subsidiary of Block, Inc., will acquire all of the issued shares in APT, and satisfaction of the Bank of Spain condition subsequent to the scheme of arrangement.
S&P Dow Jones Indices will remove Afterpay Limited from the S&P/ASX 200 effective prior to the open of trading on January 20, 2022. Afterpay Limited will be replaced by Block, Inc. CDIs (XASX: SQ2), in the S&P/ASX 200 effective prior to the open of trading on January 20, 2022.
Last week, Block, Inc, formerly known as Square, Inc, received approval from the Bank of Spain in respect of the acquisition by its subsidiary Lanai (AU) 2 Pty Ltd of Afterpay.
Now that Bank of Spain approval has been received, the acquisition’s scheme of arrangement is fully unconditional and will be implemented without the need for further shareholder or Court approval.
As FNG has reported, the Scheme became legally effective in December 2021.