Shares in Allied Domecq will be suspended next week. The UK-based drinks company's board said today (22 July) that the High Court has approved the reorganisation of capital comprised within the Scheme of Arrangement to effect the offer by Pernod, through its wholly-owned subsidiary, Goal Acquisitions Limited, for Allied.

The Scheme and its implementation were approved by Allied's shareholders on 4 July.

Subsequently, the ordinary shares held by the scheme shareholders will be reclassified into A ordinary shares of 25/670 pence each and B ordinary shares of 25/670 pence each on delivery of the office copy of the Court Order sanctioning the Scheme to the Registrar of Companies (which is expected to take place before 10.00am on Monday).

The Financial Services Authority, at Allied Domecq's request, will consequently suspend the listing, and the London Stock Exchange will suspend the trading, of Allied's Ordinary Shares at 8.00am on Monday. The New York Stock Exchange will also suspend the listing and the trading of Allied's American Depositary Receipts effective from the close of business in New York later today.

The offer remains conditional upon the confirmation of the reduction of capital comprised within the Scheme by the High Court and an office copy of the Court Order relating to the reduction of capital being delivered to, and registered by, the Registrar of Companies (which is expected to take place on Tuesday).