11/7/2022
START DATE
END DATE
3/24/2023
In the Matter of Jardine Strategic Holdings Limited
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
Court of Appeal (Criminal Division) on appeal from Supreme Court of Bermuda
Commercial Law
THE PRESIDENT SIR CHRISTOPHER CLARKE JUSTICE OF APPEAL SIR MAURICE KAY JUSTICE OF APPEAL GEOFFREY BELL
Jonathan Crow KC and John Wasty
Mark Howard KC Stephen Midwinter KC Mark Chudleigh Laura Williamson David Thom Matthew Watson Delroy Duncan KC Ryan Hawthorne Lilla Zuill
FACTS OF THE CASE:
Concerns rights of shareholders in amalgamations under the Companies Act 1981 focusing on the fair valuation of shares for dissenting shareholders post-announcement of an amalgamation. The case addresses whether shareholders who acquire shares after an amalgamation announcement are entitled to statutory appraisal rights. The court ruled against the company's attempt to limit these rights to pre-announcement shareholders affirming the broad applicability of appraisal rights.
SUMMARY:
Dissenting Shareholders
OUTCOMES:
RULED IN FAVOUR OF:
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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In the Matter of Jardine Strategic Holdings Limited
Concerns rights of shareholders in amalgamations under the Companies Act 1981 focusing on the fair valuation of shares for dissenting shareholders post-announcement of an amalgamation. The case addresses whether shareholders who acquire shares after an amalgamation announcement are entitled to statutory appraisal rights. The court ruled against the company's attempt to limit these rights to pre-announcement shareholders affirming the broad applicability of appraisal rights.