On 6 October 2006, the boards of Viridian and ElectricInvest announced that they had reached agreement on the terms of a recommended Proposal by ElectricInvest, a company beneficially owned by the international investment firm Arcapita, to acquire the entire issued share capital of Viridian.

The acquisition was implemented by way of a Court sanctioned Scheme of Arrangement under Article 418 of the Companies (Northern Ireland) Order 1986.

The Scheme of Arrangement became effective on 8 December 2006 when Viridian Group shares were delisted.

Shareholders on the share register at 4.30 pm on 6 December 2006 received £13.25 per share for each Viridian Share held and/or Loan Notes under the Loan Note Alternative in accordance with valid elections made by them.

The cash consideration, and loan note certificates where applicable, were despatched to shareholders on 22 December 2006.

• Scheme of Arrangement Circular (518Kb PDF)
• Results of Court Meeting and Extraordinary General Meeting - 20 November 2006 (40Kb PDF)