Email Alerts

• To receive Biffa News Updates register here

 Biffa Press Office

 Tel: 020 8789 9651

Press & Newsroom

Recommended Acquisition of Biffa Plc by WasteAcquisitionco Limited (Update)

12th March 2008

On 8 February 2008, Biffa Plc ("Biffa") and WasteAcquisitionco Limited ("Bidco") announced that they had reached agreement on the terms of a recommended acquisition, to be effected by means of a scheme of arrangement under section 425 of the Companies Act (the "Scheme"), of the entire issued and to be issued share capital of Biffa by Bidco. A circular containing, amongst other things, notices of the Court Meeting and the Extraordinary General Meeting, details of the Scheme and setting out the terms of the Acquisition (the "Scheme Document") was posted to Biffa Shareholders on 18 February 2008.

Biffa announces that the Court Meeting to consider, and if thought fit, approve the Scheme was held at 11.00 a.m. today at Chartered Accountants' Hall, One Moorgate Place, London EC2R 6EA and, thereafter, the Extraordinary General Meeting to consider, and if thought fit, pass the special resolution relating to the Acquisition was held at the same location.

At the Court Meeting, a majority in number, representing not less than 75 per cent. in value, of the holders of Public Scheme Shares present and voting (either in person or by proxy) voted in favour of the resolution to approve the Scheme. Accordingly this resolution, which was decided on a poll, was passed.

At the Extraordinary General Meeting, the special resolution put to Biffa Shareholders to approve certain matters necessary to implement the Acquisition was decided on a poll and passed by the requisite majority.

Subject to the sanction of the Scheme, and confirmation of the Capital Reduction, by the Court and the satisfaction, or where relevant, waiver of the remaining Conditions, the Acquisition is expected to become effective on 7 April 2008.