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LONDON - Induction Healthcare Group PLC and VitalHub UK Limited, a subsidiary of VitalHub Corp., announced today that the condition regarding the National Security and Investment Act (NSIA) has been satisfied for the proposed acquisition of Induction. This development follows the approval by the requisite majorities at the Court Meeting and General Meeting held on May 12, 2025.
The transaction, which was first agreed upon on April 10, 2025, is proceeding via a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006. The satisfaction of the NSIA condition comes after the Secretary of State confirmed that no action would be taken under the NSIA in relation to the acquisition.
The completion of the acquisition is still subject to other conditions, including court sanction and the subsequent delivery of the court order to the Registrar of Companies. The Sanction Hearing is scheduled for June 16, 2025, with the acquisition expected to become effective on June 18, 2025, subject to court approval and completion of all regulatory procedures.
Induction shareholders are advised that the last day of dealings in, and for registration of transfers of, and disablement in CREST of Induction Shares is set for June 17, 2025. Following the effective date of the scheme, the admission to trading on AIM of Induction Shares will be canceled as of June 19, 2025.
Shareholders can expect the processing of electronic transfers and the crediting of CREST accounts with cash consideration due under the scheme by July 2, 2025. The long stop date for the scheme to become effective is September 30, 2025, unless a later date is agreed upon by Induction and Bidco with the necessary consent.
This announcement is based on a press release statement and provides shareholders and the market with the latest expected timeline for the completion of the acquisition process. Further updates will be provided following the sanction hearing.
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