Metro Bank plc (MTRO) Metro Bank plc: Court sanctions Scheme of
Arrangement 17-May-2023 / 17:12 GMT/BST
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Metro Bank PLC (LSE: MTRO LN)
17 May 2023
Metro Bank PLC ("Metro Bank")
Legal Entity Identifier: 213800X5WU57YL9GPK89
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT
JURISDICTION.
CAPITALISED TERMS DEFINED IN THE SCHEME DOCUMENT AND PROSPECTUS
HAVE THE SAME MEANING WHEN USED IN THIS ANNOUNCEMENT, UNLESS
OTHERWISE DEFINED IN THIS ANNOUNCEMENT.
Proposed introduction of Metro Bank Holdings PLC as a new
non-operating bank holding company of the Metro Bank Group which
will be effected by means of a scheme of arrangement pursuant to
Part 26 of the Companies Act 2006 and admission to the premium
listing segment of the Official List and to trading on the main
market of the London Stock Exchange.
Court sanctions Scheme of Arrangement
Metro Bank is pleased to announce that the Court sanctioned the
Scheme at a hearing today. The Scheme will become effective upon
delivery of the Court Order to the Registrar of Companies, which is
expected to take place after 6:30 p.m. on 19 May 2023 and will
result in Metro Bank Holdings PLC becoming the new holding company
of Metro Bank and its subsidiaries.
The last day of dealings in, and for registration of transfers
of, Metro Bank shares will be, 19 May 2023. No transfers of Old MB
Shares will be registered after 6.30 p.m. on 19 May 2023.
Following the Scheme becoming effective, Scheme Shareholders on
the register at the Scheme Record Time, being 6.30 p.m. on 19 May
2023, will receive one New MB Share for each Old MB Share held.
It is expected that the New MB Shares will be admitted to the
premium listing segment of the Official List and to trading on the
London Stock Exchange's main market for listed securities at 8.00
a.m. on 22 May 2023. The listing of the Old MB Shares on the
Official List of the Financial Conduct Authority is expected to be
cancelled at 8.00 a.m. on 22 May 2023.
All references to times in this Announcement are to London time,
unless otherwise stated.
Enquiries
For more information, please contact:
Metro Bank PLC Investor Relations
Jo Roberts
+44 (0) 20 3402 8900
IR@metrobank.plc.uk
Metro Bank PLC Media Relations
Tina Coates / Mona Patel
+44 (0) 7811 246016 / +44 (0) 7815 506845
pressoffice@metrobank.plc.uk
Teneo
Charles Armitstead / Haya Herbert Burns
+44 (0)7703 330269 / +44 (0) 7342 031051
metrobank@teneo.com
RBC Capital Markets (Sponsor to Metro Bank)
Rupert Walford / Elliot Thomas / Kathryn Deegan
+44 (0) 20 7653 4000
ENDS
About Metro Bank
Metro Bank services 2.7 million customer accounts and is
celebrated for its exceptional customer experience. It is the
highest rated high street bank for overall service quality for
personal customers and the best bank for service in-store for
personal and business customers, in the Competition and Markets
Authority's Service Quality Survey in February 2023. Metro Bank has
also been awarded "2023 Best Lender of the Year - UK" in the
M&A Today, Global Awards, "Best Mortgage Provider of the Year"
in 2022 MoneyAge Mortgage Awards, "Best Business Credit Card" in
2022 Moneynet Personal Finance Awards, "Best Business Credit Card
2022", Forbes Advisor, "Best Current Account for Overseas Use" by
Forbes 2022 and accredited as a top ten Most Loved Workplace 2022.
It was "Banking Brand of The Year" at the Moneynet Personal Finance
Awards 2021 and received the Gold Award in the Armed Forces
Covenant's Employer Recognition Scheme 2021.
The community bank offers retail, business, commercial and
private banking services, and prides itself on giving customers the
choice to bank however, whenever and wherever they choose, and
supporting the customers and communities it serves. Whether that's
through its network of 76 stores open seven days a week, 362 days a
year; on the phone through its UK-based contact centres; or online
through its internet banking or award-winning mobile app, the bank
offers customers real choice.
Metro Bank PLC. Registered in England and Wales. Company number:
6419578. Registered office: One Southampton Row, London, WC1B 5HA.
'Metrobank' is the registered trademark of Metro Bank PLC.
It is authorised by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and Prudential
Regulation Authority. Eligible deposits are protected by the
Financial Services Compensation Scheme. For further information
about the Scheme refer to the FSCS website . All Metro Bank
products are subject to status and approval.
Metro Bank PLC is an independent UK bank - it is not affiliated
with any other bank or organisation (including the METRO newspaper
or its publishers) anywhere in the world. Please refer to Metro
Bank using the full name.
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Dissemination of a Regulatory Announcement, transmitted by EQS
Group. The issuer is solely responsible for the content of this
announcement.
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ISIN: GB00BZ6STL67
Category Code: SOA
TIDM: MTRO
LEI Code: 213800X5WU57YL9GPK89
Sequence No.: 244492
EQS News ID: 1635875
End of Announcement EQS News Service
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(END) Dow Jones Newswires
May 17, 2023 12:12 ET (16:12 GMT)
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