| 25 October 2007 | |||||
Scheme of arrangement sanctioned by court | |||||
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On 21 August 2007, IBA announced a revised offer for iSOFT (the 'Revised Offer') to be effected by means of a scheme of arrangement under section 425 of the Companies Act 1985 (the 'Revised Scheme').
On 4 October 2007, the board of iSOFT announced that the iSOFT Shareholders had approved the Revised Scheme (by the requisite majorities) at the Court-convened Court Meeting and passed the proposed special resolution relating to the Revised Scheme at the Extraordinary General Meeting of iSOFT, both of which were held on 4 October 2007. The board of iSOFT is pleased to announce that the Court sanctioned the Revised Scheme at the Court Hearing held today. It is expected that the Court will also confirm the Capital Reduction at the Court Hearing on 29 October 2007 and that the Revised Scheme will become effective on 30 October 2007 following the delivery of an office copy of the Court Orders to the Registrar of Companies and (in relation to the Capital Reduction) the registration by him of such Court Order. In accordance with paragraph 21 of Part 2 (Explanatory Statement) of the Revised Scheme Document, trading in iSOFT Shares on the London Stock Exchange's market for listed securities will be suspended with effect from the close of business today. iSOFT Shares will be de-listed at 8.00 a.m. on 30 October 2007. Any capitalised term used but not defined in this announcement has the same meaning as is given to it in the Revised Scheme Document.For further information, please contact: |
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