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Approval for AXA APH and AMP poposal

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AXA Asia Pacific announces that the Supreme Court of Victoria has today made orders approving the schemes of arrangement between AXA APH and its shareholders and rightsholders, in relation to the proposed merger of AXA APH’s Australian and New Zealand businesses with AMP and the sale of AXA APH’s Asian businesses to AXA SA.

It is expected that a copy of the Court’s orders will be lodged with the Australian Securities and Investments Commission tomorrow (Tuesday, 8 March 2011), at which time the Schemes will become legally effective.  A further announcement will be made once this has occurred.

Following this, AXA APH’s shares will be suspended from trading on the ASX at the close of trading on that day.  AMP ordinary shares, which are to be issued to AXA APH minority shareholders under the share scheme, are expected to commence trading on a deferred settlement basis on Wednesday, 9 March 2011 under ASX code “AMPN”.

The share scheme consideration is expected to be despatched to AXA APH shareholders on Wednesday, 30 March 2011.

Source : AXA Press Release