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LONDON - Aviva (LON:AV) PLC announced today that the High Court of Justice in England and Wales has sanctioned the cancellation of its outstanding £100 million 8.375% cumulative irredeemable preference shares and £100 million 8.75% cumulative irredeemable preference shares. The last day for trading the preference shares on the London Stock Exchange (LON:LSEG) was today, with suspension set to take place at 7:30 AM on Wednesday. It is anticipated that the cancellation will officially take effect on Thursday, May 14, 2025, upon registration at Companies House.
Following the court’s approval, the company has confirmed it will not purchase any preference shares under the previously announced tender offer. This cancellation marks the final step in the process, meeting the last condition outlined in the offer memorandum.
Preference shareholders are expected to see the delisting of their shares from the Official List and cessation of trading on the Main Market of the London Stock Exchange by 8:00 AM on Friday, May 15, 2025. Aviva has appointed Jefferies International Limited and Lloyds (LON:LLOY) Bank Corporate Markets plc as dealer managers for the tender offer, specifically catering to institutional investors, while Computershare Investor Services PLC will act as the receiving agent.
This move comes as part of the company’s broader financial management strategy, aimed at optimizing its capital structure. Preference shareholders with enquiries can reach out to Aviva at the provided email address, while ordinary shareholders may contact Computershare for further information.
The company has made it clear that none of the entities involved in the tender offer, including the dealer managers and agents, are making any recommendation to shareholders regarding the tender offer. This announcement and the associated documentation are not to be construed as an offer to buy or sell securities in any jurisdiction where such activity would be unlawful.
This news article is based on a press release statement from Aviva PLC and is intended to provide shareholders and the market with factual information regarding the cancellation of preference shares.
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