Schemes of arrangement and reductions of capital: Listed companies
Corporate finance training
Corporate finance training programmes

Debt/equity swaps

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An explanation of course levels:

• Introductory: for those new to the subject.

• Intermediate: for delegates with some prior knowledge of the subject.

• Advanced: for delegates with substantial knowledge of the subject.

• Update: for delegates with or without prior knowledge of the subject.

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Restructurings

Schemes of arrangement and reductions of capital: Listed companies

The course covers Companies Act procedures relating to reductions of capital and schemes of arrangement for public listed companies. It includes changes made by the Companies Act 2006.

CPD: 3 hours

Level: intermediate

OBJECTIVES

This course covers the circumstances when listed companies are most likely in practice to use schemes of arrangement and reductions of capital. Participants should be able to identify the main issues which arise in practice and advise on the procedure for reductions and schemes.

COURSE OUTLINE

PART 1. Reductions of capital

• When Companies Act and court procedures for reductions of capital could be useful.
• The main reasons why reductions of capital are used in practice.
• How to use a reduction of capital to eliminate a deficit in distributable reserves
• The requirements for a reduction of capital and the relevant procedure.
• Matters considered by the court and how to protect creditors.
• The requirements of the Listing Rules.

Part 2. Schemes of arrangement

• The circumstances when a scheme should be considered.
• The main uses of schemes.
• The procedure and documents required.
• Issues which will be considered by the Court.