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Spark Networks has announced that the Board of Directors has authorized the Company to seek shareholder approval to establish Spark Networks plc as a subsidiary of Spark Networks, Inc., a corporation that will be incorporated in Delaware.
Pending shareholder and U.K. court approval, the shares of the U.K. company, Spark Networks plc, will be cancelled and shareholders, GDS holders and ADS holders will each receive one share of Spark Networks, Inc.as common stock for each ordinary share (or depositary share) that they currently own.
Under the proposed Scheme of Arrangement, it is intended that the shares of common stock in Spark Networks, Inc. will be listed for trading on the American Stock Exchange, and Spark Networks plcâs GDSs and ADSs will no longer trade on the Frankfurt Stock Exchange and American Stock Exchange, respectively.
I found some Spark party photos on Flickr, via Technorati.
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