The High Court of Justice has sanctioned a scheme of arrangement for the merger of the Travel Trust Association and Worldchoice.
A sealed order of court is now scheduled to be sent to the registrar of companies at Companies House. Shareholders are likely to receive their payout of 275 pence per share by October 16.
The new TTA Worldchoice board will be formed as soon as the process is complete. The merged company of almost 900 travel agency outlets will operate as a separate division of the TTA Group.
Worldchoice chairman Colin Heal, who will be chairman of the new board, said: “As soon as the documents are received by the registrar the new board can be formed and we will meet shortly after that.”
Heal added only one member had contacted Worldchoice about leaving for a rival consortium by its September 30 deadline. Members had to give three months’ notice by this date to avoid paying next year’s subscriptions, due in January.
TTA director Todd Carpenter, who will also be on the new board, said: “Once we are through the formal process we can move on to the next stage.”