THE majority of ComProp shareholders have approved the proposed takeover of the company by CI Traders. More than 84% have voted to accept the offer of £11.88 in cash and six new CI Traders shares for every 11 ComProp shares.

The £51.3m. deal has been declared wholly unconditional, despite the efforts of some shareholders – former Le Riche Group and Ann Street bosses tried to scupper the deal after concerns that CI Traders should invest in trading operations and not property.

But calls for an extraordinary general meeting failed and ComProp will be delisted from the London and Channel Islands Stock Exchanges on 20 October.

Shareholders who have not sent in their forms of acceptance are being urged to do so. CI Traders will acquire any outstanding shares compulsorily, as permitted under Jersey law.

The deal will reduce the number of Channel Island companies listed on the LSE to six; CI Traders and the International Energy Group (both chaired by Tom Scott); Flying Brands, Jersey Electricity, stamp group Stanley Gibbons and Berkeley Technology.

Under AIM rules, and to avoid a conflict of interest, Mr Scott did not participate in the deal.