Forward Partners’ Share Price Rose 4.1% on Scheme Documents

The Forward Partners Group PLC (LON: FWD) share price rose 4.07% after announcing that it had published a circular concerning the Scheme (the “Scheme Document”), which includes the Proxy Forms for the upcoming Court Meeting and General Meeting.

The document details the Scheme’s terms and conditions, an explanatory statement as required by the Companies Act, a timetable of key events, notices of the meetings, and necessary steps for shareholders of both companies.

The Scheme Document includes various sections, like the Letter from the Chair of Forward Partners, Explanatory Statement, conditions of the Scheme and Acquisition, valuation reports, and notices of the Court and General Meetings. 

Hard copies of the Scheme Document and Proxy Forms will be mailed to Forward Shareholders, except those in Restricted Jurisdictions. Digital notifications or emails will be sent based on shareholders' communication preferences, directing them to websites where the document is accessible.

On November 27, 2023, Molten and Forward Partners announced an all-share acquisition agreement, under which Molten will acquire all shares of Forward Partners not already owned by the Molten Group. The acquisition is executed via a court-sanctioned arrangement scheme per Part 26 of the Companies Act.

Approval of the Scheme at a Scheme Voting Shareholders meeting scheduled for January 17, 2024, at Travers Smith LLP in London, is essential. The Acquisition's Special Resolution will also require approval at a subsequent General Meeting.

The Forward Directors unanimously advocate for the approval of the Scheme and the Special Resolution, committing to vote in favour of their collective holdings of Forward Shares, representing about 0.76% of the issued share capital and 0.77% of the Scheme Voting Shares as of the latest practicable date.

Forward Partners share price. 

The Forward Partners' share price rose 4.07% to trade at 30.70p, rising from Wednesday’s closing price of 29.5p.