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LONDON - National World plc and Media Concierge have announced that the proposed acquisition of National World by Neo Media Publishing Limited, a subsidiary of Media Concierge, is progressing as planned, with key regulatory approvals being addressed. The acquisition, which is to be executed via a scheme of arrangement, received Phase 1 Clearance from the Republic of Ireland’s Competition and Consumer Protection Commission (CCPC) on March 31, 2025.
The companies are now awaiting approval from the Minister for Media in the Republic of Ireland, which is the next step in the acquisition process. A further update is expected once the Minister’s decision has been made.
Should the Minister for Media approve the acquisition, the Court sanction hearing for the scheme is scheduled for May 22, 2025. Following the hearing, the last day for dealings in National World shares is expected to be May 23, 2025, leading up to the suspension of dealings in the shares by the morning of May 27, 2025, and the anticipated effective date of the scheme on the same day.
The timetable also indicates that the delisting and cancellation of trading of National World shares on the exchange will occur by 8.00 a.m. on May 28, 2025. Shareholders are to receive cash consideration for their shares within 14 days following the effective date of the scheme.
The acquisition remains subject to the sanction hearing occurring on or before the Sanction Long Stop date of May 31, 2025. National World has confirmed that this announcement is made with the approval of Media Concierge. The financial terms of the acquisition have been declared final, with the caveat that Media Concierge reserves the right to revise the offer if a third party proposes a higher bid for National World.
This update is based on a press release statement and provides the latest information on the acquisition timeline and current regulatory status.
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