Alto Metals Limited (ASX:AME) Announces Scheme of Arrangement Effectiveness
Scheme of Arrangement Effective
Alto Metals Limited (ASX:AME) has announced that its scheme of arrangement with Brightstar Resources Limited (ASX:BTR) is now legally effective. This follows the lodgement of court orders by the Supreme Court of Western Australia with the Australian Securities and Investments Commission (ASIC).
Alto expects that its shares will be suspended from trading on the ASX at the close of business today. Shareholders holding Alto Shares as of the Record Date, which is set at 4:00 pm AWST on 4 December 2024, will receive four new Brightstar shares for each Alto Share held.
Implementation Timeline
The implementation of the Scheme and the issuance of the Scheme Consideration are expected to occur on 9 December 2024. Alto will be removed from the official ASX listing effective at the close of business on 10 December 2024.
This announcement was authorised by the Board of Alto.
Alto Metals Limited announces the effectiveness of its scheme with Brightstar Resources Limited.
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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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