Regus Becomes IWG As Scheme Of Arrangement Becomes Effective (ALLISS)

LONDON (Alliance News) - Office space provider IWG PLC said the scheme of arrangement, under ...

Alliance News 19 December, 2016 | 11:24AM
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LONDON (Alliance News) - Office space provider IWG PLC said the scheme of arrangement, under which it is changing its name from Regus PLC and establishing a new company, became effective on Monday morning.

At the opening on Monday, 923.4 million Regus shares were delisted from the London Stock Exchange's Main Market, and the same amount of IWG shares were admitted to trading. Shareholders received one IWG share for every Regus share held on Friday afternoon.

Last month, Regus first set out its plans to move its headquarters outside of the European Union, citing the bloc's "increasingly complex legislative environment", and proposed its name change to IWG, or International Workplace Group. The scheme was then passed by shareholders and the Royal Court of Jersey earlier this month.

Shares in IWG were trading at 245.70 pence on Monday.

By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland

Copyright 2016 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
IWG PLC 240.00 GBX -2.20 -
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