Pendal Group announces that Supreme Court of NSW approves Scheme of Arrangement

Pendal Group Limited (ASX: PDL) announced that the Supreme Court of New South Wales had made orders approving the proposed acquisition of Pendal by Perpetual Limited by way of a Scheme of Arrangement. The company is expected to file an official copy of the Court orders with the Australian Securities and Investments Commission (ASIC) on 12 January 2023, and the Scheme will become legally effective.

The acquisition consideration includes a total of AU$1.65 per share, less the dividend of 3.5 cents per share, which was paid to the company's shareholders on 15 December 2022, and one Perpetual share for every seven Pendal shares.

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