Signet Group plc said Monday that the court approved its request to move the company’s headquarters from London to Bermuda and move its primary listing from the London Stock Exchange to the NYSE.
In order for the Scheme of Arrangement to become effective in accordance with its terms, the court must now confirm the comopany’s Capital Reduction at a hearing which is scheduled for Sept. 10, the world’s largest specialty retail jeweler said in a statement.
Subject to the satisfaction of the remaining conditions, the Scheme of Arrangement is expected to become effective Sept. 11.
On Aug. 19, Signet’s shareholders approved its proposal to move its parent company’s primary listing to the New York Stock Exchange and its headquarters to Bermuda.
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