Court confirmation of Reduction of Capital (3786W)

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RNS Number : 3786W

Hamworthy plc

30 January 2012

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

 
 Press Release   30 January 2012 
 

Hamworthy plc

("Hamworthy" or the "Group")

Recommended Acquisition of Hamworthy plc ("Hamworthy") by Wartsila Technology Oy Ab ("Wartsila"), a wholly-owned subsidiary of Wartsila Corporation (the "Acquisition")

Court confirmation of Reduction of Capital

Further to the announcement dated 26 January 2012, the directors of Hamworthy and Wartsila are pleased to announce that the High Court of Justice (the "Court") has today made an order confirming the reduction of Hamworthy's share capital in connection with the Scheme of Arrangement by which Wartsila's Acquisition of Hamworthy is being implemented. This follows the Court's sanction of the Scheme at a hearing held on 26 January 2012.

The Scheme will become effective upon the Court Orders being delivered to the Registrar of Companies which is expected to take place on 31 January 2012.

A detailed timetable of events for the Scheme is set out in the scheme document dated 13 December 2011 (the "Scheme Document").

Terms defined in the Scheme Document shall have the same meaning(s) when used in this announcement.

For further information:

 
 Hamworthy plc 
 Joe Oatley, Chief Executive       Tel: [phone] 
                                             662 662 
 Paul Crompton, Finance Director   www.hamworthy.com 
 Graham Lockyer, Head of IR 
 
 
 Hawkpoint Partners Limited 
  (Financial adviser to Hamworthy) 
 Christopher Kemball                 Tel: [phone] 
                                                     4500 
 Colin Christie                         www.hawkpoint.com 
 Robin Sturken 
 
 
 Numis (Broker to Hamworthy) 
 Christopher Wilkinson         Tel: [phone] 
                                               1000 
 Ben Stoop 
 
 
 Abchurch (Public relations adviser to 
  Hamworthy) 
 Henry Harrison-Topham / Quincy Allan      Tel: [phone] 
                                                           7702 
 [e-mail]             www.abchurch-group.com 
 
 
 Wartsila 
 Atte Palomaki, Group Vice President,   Tel: [phone] 
  Communications & Branding                         5219 
 Pauliina Tennila, Director, Investor   Tel: [phone] 
  Relations                                         5530 
 
 
 UBS Investment Bank (Financial adviser   Tel: [phone] 
  to Wartsila)                                            8000 
 Eero Ehrnrooth 
 Jonathan Rowley 
 Thomas Onions 
 
 
 Tulchan (Public relations adviser to 
  Wartsila) 
 Stephen Malthouse / Martha Kelly       Tel: [phone] 
                                                        4200 
 

Hawkpoint, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively as financial advisor to Hamworthy and no one else in connection with the Acquisition and will not be responsible to anyone other than Hamworthy for providing the protections afforded to customers of Hawkpoint nor for providing advice in relation to the Acquisition or any other matter referred to in this document.

Numis, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Hamworthy and no one else in connection with the Acquisition and will not be responsible to anyone other than Hamworthy for providing the protections afforded to the customers of Numis nor for providing advice in relation to the Acquisition or any other matter referred to in this document.

UBS is exclusively acting for Wartsila and Wartsila Corporation and no one else in connection with the Acquisition and will not be responsible to anyone other than Wartsila and Wartsila Corporation for providing the protections offered to clients of UBS nor for providing advice in relation to the Acquisition or the contents of this or any transaction or arrangement referred to herein.

This information is provided by RNS

The company news service from the London Stock Exchange

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