National World Acquisition by Neo Media Gets Court Approval

LONDON - National World plc (LSE:NWLD) and Media Concierge (Holdings) Limited announced today that the court has sanctioned their acquisition scheme. This approval moves the all-cash acquisition by Neo Media Publishing Limited, owned by Media Concierge, closer to completion. The acquisition, initially agreed upon on December 18, 2024, involves the purchase of the entire issued and to be issued ordinary share capital of National World not already owned by Media Concierge and its affiliates.

The transaction is expected to become effective on May 27, 2025, following the delivery of the court order to the Registrar of Companies. National World shareholders on the register at the Scheme Record Time, set for 6:00 p.m. on Sunday, will be entitled to receive 23 pence in cash for each share they hold.

Trading of National World shares on the Main Market and their listing on the Official List are anticipated to be suspended from 7:30 a.m. on May 27, 2025. The full cancellation of trading and delisting is expected by 8:00 a.m. on May 28, 2025, contingent upon the scheme’s effectuation.

Following the effective date, share certificates for National World shares will no longer be valid, and CREST entitlements will be canceled. Settlement of the cash consideration to National World shareholders will be carried out as outlined in the Scheme Document, with payments expected to be processed within 14 days after the effective date, by June 10, 2025.

The acquisition’s timetable and subsequent steps, as detailed in National World’s announcement on April 30, 2025, remain unchanged. Any revisions to the schedule will be communicated through regulatory announcements and made available on both National World’s and Media Concierge’s websites.

This development marks a significant milestone in the acquisition process, based on a press release statement. The companies have not disclosed further details regarding the implications of the acquisition or the strategic plans following the transaction’s completion.

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