Alto Metals Limited (ASX:AME) Supreme Court Approves Scheme
Scheme Approval
Alto Metals Limited (ASX:AME) announced that the Supreme Court of Western Australia has approved the scheme of arrangement for Brightstar Resources Limited (ASX:BTR) to acquire 100% of Alto’s shares. This approval sets the groundwork for the scheme to proceed.
Upcoming Key Dates
The Scheme is scheduled to become legally effective following the lodging of the Court’s orders with the Australian Securities and Investments Commission (ASIC) by 2 December 2024. Alto shares will be suspended from trading on the ASX at the close of trading on the same date. The following key dates have been outlined: the Record Date is set for 4.00pm (AWST) on 4 December 2024, with an Implementation Date of 9 December 2024. Alto will be removed from the official list of ASX on 10 December 2024.
Executive Comments
Matthew Bowles, Managing Director & CEO of Alto Metals Limited, stated that the approval marks a significant step toward completing the acquisition, and further updates will be provided to shareholders as the process progresses.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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