LONDON The Abacus Group purchase of Delton has received 'overwhelming' support from both companies sharholders.
In October the boards of Abacus and Deltron reached an agreement on the terms of a recommended all share offer for Deltron, a pan-European specialist distributor of electromechanical components and solutions and manufacturer of electromechanical components, sub-assemblies and related tools and production aids.
At a Deltron Court Meeting a majority in number of shareholders, voting either in person or by proxy, and representing 99.99 per cent. in value of votes cast (being 24,466,939 voted out of a total of 24,470,339 votes cast), voted to approve acquisition.
With a number of hurdles still be be jumped it is anticipated that dealings in New Abacus Shares will commence on the London Stock Exchange’s market for listed securities on 17 January 2006.
Harry Westropp, Chairman of Abacus, said, “The combination of Abacus and Deltron will produce a company strong in product, people and geography. We look forward to a highly successful future together.”