A-Cap Energy Limited (ASX: ACB) has provided an update in relation to a share and option schemes of arrangement between A-Cap and its shareholders and listed option holders, as applicable, pursuant to which Lotus Resources Limited would acquire 100% of A-Cap issued shares and listed options.
A-Cap has confirmed that the draft scheme booklet has been lodged with the Australian Securities & Investments Commission (ASIC) for review and the first court hearing before the Federal Court of Australia for orders to convene the share scheme meeting and option scheme meeting (Scheme Meetings) is scheduled to be heard on Friday, 15 September 2023.
In the event that the Federal Court makes the orders sought to convene the Scheme Meetings, and assuming also that the Scheme Booklet has been registered by ASIC, it is anticipated that the Scheme Booklet will be publicly released via separate ASX announcement on either 15 Friday September or Monday 18 September, and despatched to A-Cap shareholders and listed option holders shortly thereafter.
The directors of A-Cap continue to unanimously recommend that A-Cap shareholders and listed option holders vote in favour of the schemes, subject to no superior proposal emerging and, in respect of the share scheme, the independent expert continuing to conclude that the share scheme is in the best interests of A-Cap shareholders and, in respect of the option scheme, the independent expert continuing to conclude that the option scheme is in the best interests of A-Cap listed option holders.
To read more about this, please visit www.lotusresources.com.au
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