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Biffa Press Office
Tel: 020 8789 9651
Press & Newsroom
Recommended Acquisition of Biffa Plc by Waste Acquisition Co Limited
3rd April 2008
SCHEME OF ARRANGEMENT SANCTIONED BY COURTOn 8 February 2008, Biffa Plc ("Biffa") and WasteAcquisitionco Limited ("Bidco") announced that they had reached agreement on the terms of a recommended acquisition, to be effected by means of a scheme of arrangement under section 425 of the Companies Act 1985 (the "Scheme"), of the entire issued and to be issued share capital of Biffa by Bidco. A circular containing, amongst other things, notices of the Court Meeting and the Extraordinary General Meeting, details of the Scheme and setting out the terms of the Acquisition (the "Scheme Document") was posted to Biffa Shareholders on 18 February 2008.
Biffa is pleased to announce that the Court sanctioned the Scheme today. In order for the Scheme to become effective in accordance with its terms, the Court must now confirm the Capital Reduction at the Court hearing which is scheduled to take place on 4 April 2008.
Listing of Biffa Shares on the Official List and dealings in Biffa Shares on the London Stock Exchange are expected to be suspended with effect from 5.00 p.m. on 3 April 2008. The last day of dealings in, and for registration of transfers of, and disablement in CREST of, Biffa Shares will be 3 April 2008.
It is expected that the Scheme will become effective on 7 April 2008 and that the listing of Biffa Shares on the Official List will be cancelled, and that Biffa Shares will cease to be admitted to trading on the London Stock Exchange's main market for listed securities, with effect from 8.00 a.m. on 8 April 2008.
Terms defined in the Scheme Document shall have the same meaning in this announcement. The Scheme Document will remain available on Biffa's website (www.biffa.co.uk) until the Effective Date.
The expected timetable of principal events for the implementation of the Scheme remains as previously announced.
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Biffa Limited is incorporated and registered in England and Wales, Registered Number: 4081901, Registered Office: Coronation Road, Cressex, High Wycombe, Buckinghamshire HP12 3TZ
