The High Court has approved the scheme to restructure Anton Bilton’s Raven Mount following the sale of its Russian property fund management business for £83.4m.
After a 20-minute hearing, Arnold J sanctioned the AIM-listed developer’s scheme of arrangement through which it is cancelling and reissuing shares and creating a new holding company for the group.
Lawyers for Raven Mount told the court that there had been overwhelming shareholder support for the scheme – those supporters holding 99.9% of the company’s value.
