REG-Metro Bank plc Metro Bank plc: Court sanctions Scheme of Arrangement

Metro Bank HoldingsAnnouncement

17/05/2023 17:15

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   Metro Bank plc (MTRO)
   Metro Bank plc: Court sanctions Scheme of Arrangement

   17-May-2023 / 17:12 GMT/BST

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                                                Metro Bank PLC (LSE: MTRO LN)

                                                                  17 May 2023

    

    

   Metro Bank PLC (“Metro Bank”)

    

   Legal Entity Identifier: 213800X5WU57YL9GPK89

    

   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN,
   INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION
   OF THE RELEVANT LAWS OF THAT JURISDICTION.

    

   CAPITALISED TERMS DEFINED IN THE SCHEME DOCUMENT AND PROSPECTUS HAVE THE
   SAME MEANING WHEN USED IN THIS ANNOUNCEMENT, UNLESS OTHERWISE DEFINED IN
   THIS ANNOUNCEMENT.

    

   Proposed introduction of Metro  Bank Holdings PLC  as a new  non-operating
   bank holding company  of the Metro  Bank Group which  will be effected  by
   means of a scheme of arrangement pursuant to Part 26 of the Companies  Act
   2006 and admission to the premium listing segment of the Official List and
   to trading on the main market of the London Stock Exchange.

    

                     Court sanctions Scheme of Arrangement

    

   Metro Bank is pleased to announce that the Court sanctioned the Scheme  at
   a hearing today.  The Scheme will  become effective upon  delivery of  the
   Court Order to the Registrar of Companies, which is expected to take place
   after 6:30 p.m. on 19 May 2023 and will result in Metro Bank Holdings  PLC
   becoming the new holding company of Metro Bank and its subsidiaries.

    

   The last day of dealings in,  and for registration of transfers of,  Metro
   Bank shares will be, 19  May 2023. No transfers of  Old MB Shares will  be
   registered after 6.30 p.m. on 19 May 2023.

    

   Following the  Scheme  becoming  effective,  Scheme  Shareholders  on  the
   register at the Scheme Record Time, being  6.30 p.m. on 19 May 2023,  will
   receive one New MB Share for each Old MB Share held.

    

   It is expected that the New MB Shares will be admitted to the premium
   listing segment of the Official List and to trading on the London Stock
   Exchange’s main market for listed securities at 8.00 a.m. on 22 May 2023.
   The listing of the Old MB Shares on the Official List of the Financial
   Conduct Authority is expected to be cancelled at 8.00 a.m. on 22 May 2023.

   All references to times in this Announcement are to London time, unless
   otherwise stated.

    

   Enquiries

   For more information, please contact:

   Metro Bank PLC Investor Relations

   Jo Roberts

   +44 (0) 20 3402 8900

    1 IR@metrobank.plc.uk

    

   Metro Bank PLC Media Relations

   Tina Coates / Mona Patel

   +44 (0) 7811 246016 / +44 (0) 7815 506845

    2 pressoffice@metrobank.plc.uk

    

   Teneo

   Charles Armitstead / Haya Herbert Burns

   +44 (0)7703 330269 / +44 (0) 7342 031051

    3 metrobank@teneo.com

    

   RBC Capital Markets (Sponsor to Metro Bank)

   Rupert Walford / Elliot Thomas / Kathryn Deegan

   +44 (0) 20 7653 4000

    

                                      ENDS

    

    

    

   About Metro Bank

   Metro Bank services 2.7  million customer accounts  and is celebrated  for
   its exceptional customer experience. It  is the highest rated high  street
   bank for overall service quality for personal customers and the best  bank
   for  service  in-store  for  personal  and  business  customers,  in   the
   Competition and  Markets Authority’s  Service Quality  Survey in  February
   2023. Metro Bank has also been awarded “2023 Best Lender of the Year – UK”
   in the M&A Today, Global Awards,  “Best Mortgage Provider of the Year”  in
   2022 MoneyAge  Mortgage  Awards,  “Best  Business  Credit  Card”  in  2022
   Moneynet Personal Finance Awards, “Best Business Credit Card 2022”, Forbes
   Advisor, “Best  Current  Account for  Overseas  Use” by  Forbes  2022  and
   accredited as a top ten Most Loved Workplace 2022.  It was “Banking  Brand
   of The Year” at the Moneynet Personal Finance Awards 2021 and received the
   Gold Award  in the  Armed Forces  Covenant’s Employer  Recognition  Scheme
   2021.

   The community bank offers retail, business, commercial and private banking
   services, and  prides  itself  on  giving customers  the  choice  to  bank
   however, whenever and wherever they  choose, and supporting the  customers
   and communities it serves. Whether that’s through its network of 76 stores
   open seven days a week, 362 days a year; on the phone through its UK-based
   contact centres; or online through  its internet banking or  award-winning
   mobile app, the bank offers customers real choice.

   Metro Bank PLC. Registered in England and Wales. Company number:  6419578.
   Registered office: One Southampton Row,  London, WC1B 5HA. ‘Metrobank’  is
   the registered trademark of Metro Bank PLC.

   It is authorised by the  Prudential Regulation Authority and regulated  by
   the Financial  Conduct  Authority  and  Prudential  Regulation  Authority.
   Eligible deposits  are protected  by the  Financial Services  Compensation
   Scheme. For further information about the Scheme refer to the FSCS website
   . All Metro Bank products are subject to status and approval.

   Metro Bank PLC is an independent UK  bank – it is not affiliated with  any
   other  bank  or  organisation  (including  the  METRO  newspaper  or   its
   publishers) anywhere in the  world. Please refer to  Metro Bank using  the
   full name.

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          GB00BZ6STL67
   Category Code: SOA
   TIDM:          MTRO
   LEI Code:      213800X5WU57YL9GPK89
   Sequence No.:  244492
   EQS News ID:   1635875


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:IR@metrobank.plc.uk
   2. mailto:pressoffice@metrobank.plc.uk
   3. mailto:metrobank@teneo.com


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