LONDON--Tikit Group PLC (TIK.LN), technology company, announced
Tuesday that the High Court of Justice in England and Wales made an
order sanctioning a scheme of arrangement implementing British
Telecommunications PLC's (BT.LN) recommended cash offer for the
company.
MAIN FACTS:
-Following Court Sanction, 694,569 shares have been allotted as
a result of the exercise of share options by employees, including
certain directors
-Subject to the Court confirming the capital reduction on Jan.
17, it is expected that the scheme will become effective on or
before Jan. 18
-It is expected that dealings in Tikit Shares on AIM will be
suspended with effect Jan. 17
-Tikit shares closed Tuesday at 413 pence valuing the company at
GBP61 million.
-Write to Ed Ballard at ed.ballard@dowjones.com
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