Pendal shares to cease on ASX today
Investment manager Pendal is expected to cease trading on the Australian Securities Exchange (ASX) today (Thursday) following the Supreme Court of NSW approving the scheme of arrangement for its acquisition by Perpetual Limited.
Pendal and Perpetual announced to the court’s approval of the scheme to the ASX yesterday, stating that Pendal expected to lodge an office copy of the Court orders with the Australian Securities and Investments Commission (ASIC) today.
It said Pendal would be requesting that the quotation of its shares on the ASX be suspected from close of trading today.
The announcement said that subject to the Scheme becoming legally effective, it was expected that implementation would occur on 23 January.
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