PSI.ASX Suspended from Quotation
Key points
- Federal Court approves scheme of arrangement for Rosedale Bidco to acquire all PSI shares
- Suspension from quotation effective from close of trading on 2 October 2024
- Scheme expected to be implemented on 11 October 2024
Full summary
PSC Insurance Group Ltd (ASX: PSI) has been suspended from quotation on the Australian Securities Exchange (ASX) following the Federal Court of Australia's approval of a scheme of arrangement under which Rosedale Bidco Pty Ltd (The Ardonagh Group) will acquire all of the issued shares in PSI. The suspension from quotation is effective from the close of trading on Wednesday, 2 October 2024, after the lodgement of the Court's orders with the Australian Securities and Investments Commission (ASIC) earlier that day. The scheme of arrangement is expected to be implemented on 11 October 2024, at which point PSI will request the ASX to end the quotation of its shares and remove it from the official list. PSI is not aware of any reasons why its shares should not be suspended or any other information necessary to inform the market about the suspension.
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