The merger of AMP Limited (AMP) and AXA Asia Pacific Holdings Limited (AXA APH) Australian and New Zealand businesses has taken effect and been implemented. This means AXA APH is now fully owned by the AMP Group.
The cash component of the share scheme consideration has been dispatched and new shares issued to the AXA APH minority shareholders under the share scheme. Share scheme participants will receive the equivalent of A$6.431 per share comprising 0.73 AMP shares and A$2.5464 cash for each AXA APH share. They have also received AXA APH’s 2010 final dividend of 9.25 cents per share.
To provide the share component of the share scheme consideration, AMP issued 695,262,564 new ordinary fully paid shares in the capital of AMP Limited. AMP now has 2,789,686,764 ordinary shares on issue. Trading of the new AMP shares commences on 31 March 2011 under the ASX code ‘AMP’. Completion of the sale of AXA APH’s Asian businesses to AXA SA is expected to occur by Friday 1 April 2011.
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