U.K.-based Rasmala PLC said Dec. 17 that the court sanctioned the scheme of arrangement to change the group's corporate structure by inserting a new British Virgin Islands-incorporated company as the ultimate parent of the group.

The scheme is expected to become effective Dec. 18. Admission of the company's shares to trading on the London Stock Exchange's AIM is expected to be canceled Dec. 19, subject to the scheme becoming effective.