Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
DUBLIN - Polaris (NYSE:PII) Capital Management has sold 200,000 shares of Greencore Group PLC (LSE:GNC), reducing its voting power in the upcoming shareholder vote on Greencore’s proposed acquisition of Bakkavor Group PLC (LSE:BAKK), according to a regulatory disclosure released Wednesday.
Following the sale, Polaris now holds 21,026,215 Greencore shares, representing approximately 4.8 percent of the company’s issued share capital as of Tuesday. This marks a further reduction from the 24,126,708 shares, or 5.5 percent stake, that Polaris initially committed through an irrevocable undertaking to support Greencore’s acquisition plans.
The sale affects Polaris’s ability to vote those shares in favor of the Greencore resolutions at the upcoming shareholder meeting related to the Bakkavor acquisition.
Greencore and Bakkavor announced on May 15 that they had reached agreement on terms for a cash and share offer, which will be implemented through a court-approved scheme of arrangement under the Companies Act 2006.
Despite Polaris’s reduced position, the total number of Greencore shares subject to irrevocable undertakings from all stakeholders remains at 24,280,495, representing approximately 5.5 percent of Greencore’s issued ordinary share capital.
The disclosure was made pursuant to Rule 2.10 of the UK Takeover Code, based on a press release statement from Greencore.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.