Court approval for Ardent Leisure Group corporatisation

Company News

by Rachael Jones

Ardent Leisure and Ardent Leisure Management an entity of the Ardent Leisure Trust together, as Ardent Leisure Group (ASX:AAD) are pleased to announce that on 20 November 2018, securityholders approved the resolutions required to effect the proposal for the corporatisation of the Ardent Leisure Group.

This will involve a new company called Ardent Leisure Group Limited, NewCo becoming the single head entity of the Ardent Leisure Group in place of the current stapled structure.

Ardent Leisure Group intends to lodge the Court Orders with ASIC on 29 November 2018.

Thursday, 29 November 2018 will be the last day of trading in Ardent Leisure Group stapled securities on ASX and the Effective Date for the Proposal. NewCo shares are expected to commence trading on a deferred settlement basis on ASX on Friday, 30 November 2018.

Shares in Ardent Leisure Group (ASX:AAD) closed -0.34 per cent lower to $1.46

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.