A scheme of arrangement through which U.K.-based Lombard Risk Management plc is being acquired by Dutch financial software provider Vermeg Group NV became effective Feb. 23, the British financial services technology firm said the same day.
As a result, the cancellation of the admission to trading of Lombard Risk's shares on the London Stock Exchange is expected to take place Feb. 27. The scheme received approval from the High Court of Justice in England and Wales on Feb. 22.
Lombard Risk said scheme shareholders on the register of the company's members on Feb. 22 will be entitled to receive 13 pence in cash for each scheme share held.
In January, Vermeg offered to acquire the entire issued and to-be-issued ordinary share capital of Lombard Risk for 13 pence per share, valuing the British financial services technology firm at approximately £52.1 million.