The required majority of Caxton shareholders have approved the scheme proposed by CTP between Caxton and its shareholders. The scheme is awaiting sanctioning by the high court which will hear the matter on 3 Dec 02. Scheme members have the option to choose between a cash consideration of 410cps or 81 CTP share for every 100 Caxton shares held, if no choice is made on or before 20 Dec 02 then they will receive the cash consideration. Shareholders will be notified of the outcome of the court hearing as well as salient dates relating to the scheme.
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