Cable & Wireless Worldwide plc, or CWW, (CW.L) and Vodafone (VOD, VOD.L) announced that, on July 17, Cable & Wireless Worldwide issued and allotted one Cable & Wireless Worldwide Share to Vodafone at a price of 38 pence. This means that Vodafone will be a member of Cable & Wireless Worldwide at the Scheme Record Time and accordingly there will be no requirement under section 593 of the Companies Act 2006 for an independent valuation of the new shares in Cable & Wireless Worldwide to be issued to Vodafone under the Scheme.
In the scheme document dated May 21, 2012 relating to the scheme of arrangement implementing the Offer, it was stated that Vodafone had agreed to acquire one Cable & Wireless Worldwide Share prior to the Scheme Record Time.
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