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IMImobile announces scheme of arrangement becomes effective after Bidco cash offer; board members resign
StockMarketWire.com
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Cloud software company IMImobile said a scheme of arrangement has come into effect, allowing a recommended cash offer by Bidco, an indirect wholly-owned subsidiary of Cisco, made on 7 December 2020 for the entire issued and to be issued ordinary share capital of IMImobile to go ahead, prompting several board members to resign.
The offer made by Bidco for IMImobile was effected by means of a scheme of arrangement under Part 26 of the Companies Act.
Dealings in IMImobile shares on the London Stock Exchange's AIM market were suspended at 7.30am today (19 February).
With the scheme having come into effect, John Allwood, Vishwanath Alluri and Simon Blagden have tendered their resignations as of 19 February 2021 and have stepped down from the IMImobile board.
At 1:27pm: (LON:IMO) Imimobile PLC share price was 0p at 407.5p
Story provided by StockMarketWire.com
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