Re Dee Valley Group plc

Company – Scheme of arrangement. The Companies Court, in approving scheme of arrangement proposed by Dee Valley Group plc, considered, among other things, the proper test to be applied to determine if the votes of members at a class meeting were valid. It held, among other things that share splitting undermined the underlying spirit of the dual requirements prescribed by the legislature as pre-condition for scheme approval under the Companies Act 2006 and that the chairman at the class meeting in the present case had been entitled to protect the integrity of that meeting against manipulative practices such as share-splitting that would frustrate its statutory purpose.

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