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SVB Holdings to become Novae tomorrow

SVB today said the High Court had made an order sanctioning the scheme of arrangement dated 28 March 2006 between SVB and the holders of its scheme shares confirming both the reduction of capital provided for by the scheme and the cancellation of the SVB deferred shares.

"Pursuant to the terms of the scheme, a new parent company will be introduced for SVB. This new parent company is called Novae Group," SVB added in a statement.

"It is intended that the Court Order

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