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Tue 13 Dec 2011, 07:30 GMT

Wärtsilä posts Hamworthy scheme document


Finnish firm posts scheme document relating to its acquisition of Hamworthy.

Wärtsilä has today announced that the scheme document relating to its acquisition of Hamworthy Plc is being posted to Hamworthy shareholders today.

Wärtsilä and Hamworthy announced on 22 November that they had reached agreement on the terms of a recommended offer for the entire issued and to be issued ordinary share capital of Hamworthy for 825 pence in cash per Hamworthy share. The acquisition will be effected by means of a Scheme of Arrangement under English law.

The scheme will need to be approved at the Court Meeting and will require the passing of a special resolution at the Hamworthy General Meeting.

The expected timetable of events has been included below:

9 January 2012 (11.00 a.m.)
General Meeting of Hamworthy

9 January 2012 (11.15 a.m.)
Scheme Court Hearing to sanction the scheme.

26 January 2012
Effective Date

31 January 2012
Cancellation of trading of Hamworthy shares by no later than 8.00 a.m. on 31 January 2012

The above dates and times are indicative only and will depend, amongst other things, on the dates by which all necessary anti-trust clearances are obtained and the dates on which the court sanctions the scheme and confirms the associated Reduction of Capital. The timetable assumes that German and Norwegian anti-trust clearances are obtained by not later than 26 January 2012.

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