At the Court hearing held earlier today, the Court sanctioned the scheme of arrangement ("Scheme") relating to the proposed merger of CGU and Norwich Union.
At the Court hearing held earlier today, the Court sanctioned the scheme of arrangement ("Scheme") relating to the proposed merger of CGU and Norwich Union.
All of the required regulatory approvals relating to the merger have now also been received.
It is expected that the Scheme will become effective on Tuesday, 30 May 2000 at which time CGU plc will change its name to CGNU plc and that dealings in the new CGNU plc ordinary shares to be issued to Norwich Union shareholders will commence on that day. On this basis, the last day of dealings in Norwich Union ordinary shares will be Friday, 26 May 2000.
Analyst contact:
Steve Riley Tel: 020 7662 8115
Media contact:
Laura Frost, The Maitland Consultancy
Tel: 020 7379 5151