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LONDON - Ashtead Group (LON:AHT) plc shareholders have approved a scheme of arrangement to establish a new Delaware corporation, Sunbelt Rentals, as the holding company for the group in connection with its proposed US primary listing.
At a Court Meeting held Tuesday at Freshfields LLP in London, the resolution approving the scheme passed with 96.44% of votes in favor, representing 74 of 89 shareholders present in person or by proxy.
Shareholders also approved all seven special resolutions at the Extraordinary General Meeting held the same day. These resolutions included authorizing directors to implement the scheme, approving capital reduction, issuing new Ashtead shares, amending articles of association, delisting from the London Stock Exchange (LON:LSEG), re-registering as a private company, and adopting post-scheme articles of association.
The most strongly supported resolution was for amending the existing articles of association, which received 95.95% approval. The resolution to delist Ashtead shares from the Official List and the London Stock Exchange’s main market received the lowest support at 93.79%.
Completion of the scheme remains subject to sanction by the High Court of Justice in England and Wales, with the hearing expected to take place in the first quarter of 2026. Exact dates will be announced later.
The scheme was initially proposed on May 13, 2025, when Ashtead published a circular to shareholders detailing the terms and voting instructions.
This information is based on a press release statement from Ashtead Group plc issued Tuesday.
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