TI Fluid Systems Delisted as Scheme Becomes Effective
Why we think this is very bad
The RNS announces that the Scheme of Arrangement for the acquisition of TI Fluid Systems by ABC Technologies Acquisitions Limited has become Effective, resulting in the delisting of TI Fluid Systems. Delisting events are generally viewed negatively by the market as they remove the company's public listing and access to public markets.
Key Points
- Scheme of Arrangement becomes Effective
- TI Fluid Systems shares to be delisted
- Shareholders to receive 200 pence per share
Summary
The automotive parts manufacturer is being taken private as its Scheme of Arrangement with ABC Technologies Acquisitions becomes Effective, resulting in the delisting of TI Fluid Systems.
TI Fluid Systems plc is being acquired by ABC Technologies Acquisitions Limited in a recommended all-cash transaction. The Scheme of Arrangement has now become Effective, resulting in the entire issued share capital of TI Fluid Systems being owned by Bidco and the delisting of TI Fluid Systems from the London Stock Exchange.
GENERAL UPDATE