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Pace-ARRIS scheme approved

22 October 2015 13:18

Shareholders have approved a scheme of arrangement for the recommended combination of Pace and ARRIS Group at court and general meetings today.

Pace chairman Allan Leighton said: "I am pleased with the support shown by Pace shareholders for the recommended combination of Pace with ARRIS at today's court meeting and general meeting.

"The positive vote is consistent with the confidence of the Directors of Pace that the combination of the complementary ARRIS and Pace businesses will create a platform for future growth above and beyond our standalone potential. This vote satisfies a further condition to the transaction, which continues to progress towards expected completion in late December 2015 or the first quarter of 2016."

At 1:18pm:

(LON:PIC) Pace PLC share price was -7.95p at 375.85p

Story provided by StockMarketWire.com

Related Company: PIC

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