The High Court has approved New Star Asset Management’s £213m share placing and £363m payout to shareholders.
After a 10-minute hearing Mann J sanctioned the fund manager’s scheme of arrangement through which it is making the share placing and returning capital to shareholders.
New Star, which is run by John Duffield, expects its shares to be listed on the official list and traded on the main market of the
The matter will return to court on 12 June for a hearing to confirm the proposed reduction of capital under the scheme.
In the matter of New Star Asset Management Chancery Division (Mann J) 8 June 2007.
