LXB Retail Properties Plc said its reorganization, carried out through a scheme of arrangement, became fully unconditional and effective March 16.
The plan pushed through after the Royal Court of Jersey approved the reorganization of the London-listed developer of edge-of-town and out-of-town retail assets. Earlier, the plan was also approved by LXB Retail shareholders.
As announced in February, the reorganization involves the group transferring its remaining assets and associated liabilities to IW Midco Ltd., a third-party company owned and managed by a member of LXB Retail's investment adviser team, among others. LXB Retail also plans to delist from the London bourse's Alternative Investment Market shortly after March 31, 2019, and delist from the International Stock Exchange ahead of its dissolution.
