Capco’s merger with West End neighbour Shaftesbury has completed, with the delisting of Shaftesbury from the stock exchange and the resignation of its chief executive Brian Bickell.
The entire issued and to be issued share capital of Shaftesbury is now owned by Capco, with Shaftesbury shareholders receiving 3.356 new Capco shares for each Shaftesbury share held.
Just over 1bn new Capco shares will be issued to Shaftesbury shareholders on the register, while just over 6m Capco Shares have been issued pursuant to Capco’s share plans.
As of 8am this morning, Shaftesbury has been delisted from the premium listing segment of the Official List, while 1.1bn shares for the new company, at 25p each, have been admitted. The revised issued share capital of the company will now consist of 1,953,170,495 ordinary shares of 25p each.
The new Capco shares were also admitted for a secondary inward listing and to trading on the Main Board of the Johannesburg Stock Exchange with effect from 10am today, Johannesburg time.
As the scheme has now become effective, Shaftesbury chief executive Bickell has resigned, along with SID Richard Akers, and non-executive directors including Helena Coles, Jennelle Tilling, Ruth Anderson, and executive directors Simon Quayle and Tom Welton.
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Photo © Nic Crilly-Hargrave
