Acquisition | TYMAN PLC | 1st August 2024
On 22 April 2024, the boards of directors of QUANEX BUILDING PRODUCTS and TYMAN PLC announced that they had reached agreement on the terms and conditions of a recommended cash and share acquisition by QUANEX BUILDING PRODUCTS of the entire issued, and to be issued, ordinary share capital of TYMAN PLC. The Transaction is being implemented by way of a Court-sanctioned scheme of arrangement. Each shareholder of TYMAN PLC will receive 2.4 GBP in cash and 0.05715 shares of QUANEX BUILDING PRODUCTS CORP for every share held in TYMAN PLC. Additionally based on revised proposal announced on June 28, 2024 each shareholder of TYMAN PLC will also receive a special cash interim dividend of 0.15 GBP conditional upon the sanction of the Scheme by the Court at the Court Hearing. On 12 July, 2024 it was announced that the Scheme had been approved by shareholders of TYMAN PLC. On July 24, 2024 the High Court sanctioned the scheme. The last day of trading in shares of TYMAN PLC is expected to be July 31, 2024.
The treatment below will be applied to the following indices:
- TYMAN PLC will be removed from the Index.
- The weight of TYMAN PLC (TYMN.L) based on its last close price will be distributed pro rata to remaining Index constituents.
- Effective Date (open): 01/08/2024
RAFI Dynamic Multi-Factor Developed ex-U.S. Index NTR
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Solactive United Kingdom Broad Market UCITS C1 Index (JH NTR)
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Solactive United Kingdom 250 Index
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Solactive United Kingdom 250 USD Index
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Solactive United Kingdom 350 Index
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Solactive United Kingdom 350 USD Index
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- TYMAN PLC will be removed from the Index.
- The shares of QUANEX BUILDING PRODUCTS CORP (NX.N) will be increased according to the stock terms of the transaction.
- The cash portion of the transaction will be distributed pro rata to remaining Index constituents.
- Effective Date (open): 01/08/2024
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