Swiss commodities trader Glencore International Plc. (GLEN.L, GLNCY.PK, GLCNF.PK) noted announcement by Xstrata (XTA.L, XSRAY.PK, XSRAF.PK) that the Court of Justice in England and Wales has issued an order confirming the reduction of Xstrata's share capital to be effected as part of the Merger of Glencore and Xstrata.
The Reduction Court Order is expected to be delivered to and registered by the Registrar of Companies on 2 May 2013, at which time the New Scheme and Merger will become effective.
Admission of the New Glencore Shares to the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities is expected to occur on 3 May 2013. The Hong Kong Admission is expected to occur on 6 May 2013.
The cancellation of the listing and trading of Xstrata Shares on the London Stock Exchange is expected to take place on 3 May 2013 and the official cancellation of the secondary listing of Xstrata Shares on the SIX Swiss Stock Exchange is expected to take effect on, and including, 6 May 2013.
It was in early February last year that Xstrata agreed for an all-share merger of equals with Glencore, to create a $90 billion natural resources group to be called Glencore Xstrata International Plc. The deal had won the approval of both companies' shareholders on November 20.
For comments and feedback: editorial@rttnews.com