Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

Morrisons (MRW)

Share latest information on individual companies and hot news discussions. LSE Main Market companies only
Forum rules
No penny shares or promotional posts
csearle
Lemon Quarter
Posts: 4764
Joined: November 4th, 2016, 2:24 pm
Has thanked: 4814 times
Been thanked: 2083 times

Re: Morrisons (MRW)

#450554

Postby csearle » October 16th, 2021, 11:08 am

Anyone have any rough idea when we can expect the cash to be available to re-invest?

Chris

pje16
Lemon Half
Posts: 6050
Joined: May 30th, 2021, 6:01 pm
Has thanked: 1843 times
Been thanked: 2066 times

Re: Morrisons (MRW)

#450564

Postby pje16 » October 16th, 2021, 11:49 am

HI Chris
From a post on II
"The final offer for the supermarket, which last month was promoted back into the FTSE 100 index of London blue-chips, will now be voted on by shareholders on October 19".
I get notifed of votes but havent heard anything yet which is surprising
so i guess it wiil be in couple of weeks rather than days before we know

Paul

EthicsGradient
Lemon Slice
Posts: 571
Joined: March 1st, 2019, 11:33 am
Has thanked: 33 times
Been thanked: 231 times

Re: Morrisons (MRW)

#450569

Postby EthicsGradient » October 16th, 2021, 12:32 pm

csearle wrote:Anyone have any rough idea when we can expect the cash to be available to re-invest?

Chris

From the Scheme Document: Effective Date 27th Oct
"Latest date for electronic payment/dispatch of cheques/
settlement through CREST in respect of the consideration
for the CD&R Offer . . . . . . . . . . . . . . . . . . . . . . . . . . . within 14 days of the Effective Date"

csearle
Lemon Quarter
Posts: 4764
Joined: November 4th, 2016, 2:24 pm
Has thanked: 4814 times
Been thanked: 2083 times

Re: Morrisons (MRW)

#450570

Postby csearle » October 16th, 2021, 12:34 pm

EthicsGradient wrote:
csearle wrote:Anyone have any rough idea when we can expect the cash to be available to re-invest?

Chris

From the Scheme Document: Effective Date 27th Oct
"Latest date for electronic payment/dispatch of cheques/
settlement through CREST in respect of the consideration
for the CD&R Offer . . . . . . . . . . . . . . . . . . . . . . . . . . . within 14 days of the Effective Date"
Oh thanks for that. Sorry I should have taken more time to find out myself. Chris

dealtn
Lemon Half
Posts: 6072
Joined: November 21st, 2016, 4:26 pm
Has thanked: 441 times
Been thanked: 2324 times

Re: Morrisons (MRW)

#450740

Postby dealtn » October 17th, 2021, 11:31 am

csearle wrote:Anyone have any rough idea when we can expect the cash to be available to re-invest?

Chris


Within seconds of selling in the market, if you needed to?

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Morrisons (MRW)

#451360

Postby idpickering » October 19th, 2021, 5:10 pm

Results of Court Meeting and General Meeting

On 2 October 2021, following the conclusion of the auction procedure between CD&R Bidco and Oppidum Bidco Limited, the boards of directors of Morrisons and CD&R Bidco announced that they had reached agreement on the terms of a recommended all cash offer for the entire issued and to be issued share capital of Morrisons at an increased offer value of 287 pence for each Morrisons Share (the "CD&R Final Offer").

The CD&R Final Offer is to be implemented by means of a scheme of arrangement pursuant to Part 26 of the Companies Act (the "Scheme"). The circular in relation to the Scheme was published or made available to Morrisons Shareholders and Morrisons CSN Participants on 25 September 2021 (the "CD&RScheme Document") and a supplementary letter in respect of the CD&R Final Offer was published or made available to Morrisons Shareholders and Morrisons CSN Participants on 5 October 2021 (the "CD&R Shareholder Letter").

Capitalised terms used but not defined in this announcement have the meanings given to them in the CD&R Scheme Document.

Morrisons is pleased to announce that, at the Court Meeting and General Meeting, each held earlier today:

· the requisite majorities of Scheme Shareholders voted to approve the Scheme at the Court Meeting; and

· the requisite majority of Morrisons Shareholders voted to pass the Resolution in connection with the amendment of the Morrisons Articles and the implementation of the Scheme at the General Meeting.

Details of the resolutions passed are set out in the Notice of Court Meeting and Notice of General Meeting contained in Parts X and XI (respectively) of the CD&R Scheme Document.

And later;

Next steps and timetable

The outcome of today's Meetings means that Conditions 2(a) and 2(b) (as set out in Part III of the CD&R Scheme Document) have been satisfied.

The CD&R Final Offer remains subject to the satisfaction or (where capable of being waived) waiver of the other Conditions to the CD&R Offer as set out in Part III of the CD&R Scheme Document, including the sanction of the Scheme by the Court at the Scheme Court Hearing and the delivery of a copy of the Court Order to the Registrar of Companies.

The expected timetable of principal events for the implementation of the CD&R Final Offer is set out below and, save as set out below, remains as set out in the CD&R Scheme Document. These times and dates are indicative only and will depend on, among other things, the date(s) upon which (i) the Conditions are satisfied or (where applicable) waived, (ii) the Court sanctions the Scheme, and (iii) the Court Order sanctioning the Scheme is delivered to the Registrar of Companies. If any of the dates and/or times in this expected timetable change, the revised dates and/or times will be notified to Morrisons Shareholders by announcement through a Regulatory Information Service, with such announcement being available on Morrisons' website at http://www.morrisons-corporate.com/inve ... r-from-cdr.


https://www.investegate.co.uk/morrison- ... 44025773P/

pje16
Lemon Half
Posts: 6050
Joined: May 30th, 2021, 6:01 pm
Has thanked: 1843 times
Been thanked: 2066 times

Re: Morrisons (MRW)

#451972

Postby pje16 » October 21st, 2021, 12:39 pm

just had this from II

Effective date: 27th October 2021
Terms: GBP2.87 in cash per Morrison share
Pay date: By 10th November 2021

Morrison (WM) Supermarkets has announced a Scheme of Arrangement with CD&R (Bidco), effective from 27th October 2021.

Under the terms of the Scheme, holders will be issued with GBP2.87 in cash in exchange for each Morrison share held.

Cash will be issued to entitled shareholders upon receipt, this is expected to be on or around 10th November 2021.

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Morrisons (MRW)

#452919

Postby idpickering » October 25th, 2021, 1:34 pm

COURT SANCTION OF SCHEME OF ARRANGEMENT

On 2 October 2021, following the conclusion of the auction procedure between CD&R Bidco and Oppidum Bidco Limited, the boards of directors of Morrisons and CD&R Bidco announced that they had reached agreement on the terms of a recommended all cash offer for the entire issued and to be issued share capital of Morrisons at an increased offer value of 287 pence for each Morrisons Share (the "CD&R Final Offer").

The CD&R Final Offer is to be implemented by means of a scheme of arrangement pursuant to Part 26 of the Companies Act (the "Scheme"). The circular in relation to the Scheme was published or made available to Morrisons Shareholders and Morrisons CSN Participants on 25 September 2021 (the "CD&RScheme Document") and a supplementary letter in respect of the CD&R Final Offer was published or made available to Morrisons Shareholders and Morrisons CSN Participants on 5 October 2021 (the "CD&R Shareholder Letter").

Capitalised terms used but not defined in this announcement have the meanings given to them in the CD&R Scheme Document.

On 19 October 2021, the Scheme was approved by the requisite majorities of Scheme Shareholders at the Court Meeting and the Resolution in connection with the implementation of the Scheme was passed by the requisite majority of Morrisons Shareholders at the General Meeting.

Morrisons and CD&R Bidco are pleased to announce that the High Court of Justice in England and Wales has today made an order sanctioning the Scheme under section 899 of the Companies Act.

The Scheme will become Effective upon the delivery of a copy of the Court order to the Registrar of Companies, which is expected to occur on 27 October 2021.

Next steps

Morrisons confirms that, the last day of dealings in, and for registration of transfers of, and disablement in CREST of, Morrisons Shares, will be tomorrow, 26 October 2021, and the Scheme Record Time will be 6.00 p.m. tomorrow, 26 October 2021. Scheme Shareholders on Morrisons' register of members at the Scheme Record Time will, upon the Scheme becoming Effective, be entitled to receive 287 pence in cash for each Scheme Share held.

A request has been made for the suspension of the listing of Morrisons Shares on the premium listing segment of the Official List and the admission to trading of Morrisons Shares on the London Stock Exchange's main market with effect from 7.30 a.m. on 27 October 2021.

It is expected that, subject to the Scheme becoming Effective on 27 October 2021, the listing of Morrisons Shares on the premium listing segment of the Official List and the admission to trading of Morrisons Shares on the London Stock Exchange's main market for listed securities will each be cancelled with effect from 8.00 a.m. on 28 October 2021.

A further announcement will be made when the Scheme has become Effective.


https://www.investegate.co.uk/morrison- ... 00021655Q/

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Morrisons (MRW)

#453458

Postby idpickering » October 27th, 2021, 7:16 am

SCHEME BECOMES EFFECTIVE

On 2 October 2021, following the conclusion of the auction procedure between CD&R Bidco and Oppidum Bidco Limited, the boards of directors of Morrisons and CD&R Bidco announced that they had reached agreement on the terms of a recommended all cash offer for the entire issued and to be issued share capital of Morrisons at an increased offer value of 287 pence for each Morrisons Share (the "CD&R Final Offer").

The CD&R Final Offer is to be implemented by means of a scheme of arrangement pursuant to Part 26 of the Companies Act (the "Scheme"). The circular in relation to the Scheme was published or made available to Morrisons Shareholders and Morrisons CSN Participants on 25 September 2021 (the "CD&RScheme Document") and a supplementary letter in respect of the CD&R Final Offer was published or made available to Morrisons Shareholders and Morrisons CSN Participants on 5 October 2021 (the "CD&R Shareholder Letter").

Capitalised terms used but not defined in this announcement have the meanings given to them in the CD&R Scheme Document.

On 25 October 2021, Morrisons and CD&R Bidco announced that the Court had sanctioned the Scheme. Morrisons and CD&R Bidco are pleased to announce that the Scheme has today become Effective in accordance with its terms, following delivery of the Court Order to the Registrar of Companies.

Suspension and cancellation of listing and trading

The listing of Morrisons Shares on the premium listing segment of the Official List and the admission to trading of Morrisons Shares on the London Stock Exchange's Main Market for listed securities are suspended with effect from 7.30 a.m. (London time) today.

The listing of Morrisons Shares on the premium listing segment of the Official List and the admission to trading of Morrisons Shares on the London Stock Exchange's Main Market for listed securities are, in each case, expected to be cancelled with effect from 8.00 a.m. (London time) on 28 October 2021.


https://www.investegate.co.uk/morrison- ... 00034027Q/

Bouleversee
Lemon Quarter
Posts: 4652
Joined: November 8th, 2016, 5:01 pm
Has thanked: 1195 times
Been thanked: 902 times

Re: Morrisons (MRW)

#454297

Postby Bouleversee » October 30th, 2021, 10:51 am

https://www.theguardian.com/business/20 ... quity-firm

I'll refrain from making any comment.

pje16
Lemon Half
Posts: 6050
Joined: May 30th, 2021, 6:01 pm
Has thanked: 1843 times
Been thanked: 2066 times

Re: Morrisons (MRW)

#457066

Postby pje16 » November 10th, 2021, 12:55 pm

I have just recieved my cash from the takeover
(II account)
and it has now (finally) disappeared from my list of holdings

zharrt
Posts: 33
Joined: April 15th, 2019, 7:04 pm
Has thanked: 16 times
Been thanked: 8 times

Re: Morrisons (MRW)

#457122

Postby zharrt » November 10th, 2021, 5:43 pm

Nothing in my HL account yet, but I have removed it from my tracking spreadsheet

BT63
Lemon Slice
Posts: 432
Joined: November 5th, 2016, 1:22 pm
Has thanked: 59 times
Been thanked: 121 times

Re: Morrisons (MRW)

#457134

Postby BT63 » November 10th, 2021, 6:27 pm

I received my payment today.
My holding was certificated and the payment went into the bank account which has been receiving the dividends.

Breelander
Lemon Quarter
Posts: 4179
Joined: November 4th, 2016, 9:42 pm
Has thanked: 1000 times
Been thanked: 1855 times

Re: Morrisons (MRW)

#457193

Postby Breelander » November 11th, 2021, 12:32 am

My Barclays Smart Investor ISA shows a cash transaction dated Wednesday 10th:
10/11/2021	Scheme Of Arrangement of Morrison (Wm) Supermarkets PLC ORD 10P @ GBP 2.8700 per share

stockton
Lemon Slice
Posts: 326
Joined: November 30th, 2016, 7:19 pm
Has thanked: 6 times
Been thanked: 58 times

Re: Morrisons (MRW)

#508730

Postby stockton » June 21st, 2022, 9:58 pm

A surprising quantity of superfluous liquid in some of the Morrisons products that I have bought recently. I wonder if this is connected with the change in ownership.

csearle
Lemon Quarter
Posts: 4764
Joined: November 4th, 2016, 2:24 pm
Has thanked: 4814 times
Been thanked: 2083 times

Re: Morrisons (MRW)

#508857

Postby csearle » June 22nd, 2022, 3:17 pm

stockton wrote:A surprising quantity of superfluous liquid in some of the Morrisons products that I have bought recently. I wonder if this is connected with the change in ownership.
Probably not really company news though, eh?


Return to “Company Share news (LSE Main Market)”

Who is online

Users browsing this forum: No registered users and 5 guests