Midway Limited (ASX: MWY) Announces Court Approval for Scheme Meeting
Court Approval Granted
Midway Limited (ASX: MWY) has received approval from the Federal Court of Australia to convene a meeting of shareholders. This meeting will address the proposed acquisition of 100% of Midway’s issued shares by RCM BidCo Pty Ltd, an entity managed by River Capital Pty Ltd.
Next Steps for Shareholders
The Scheme Meeting is set for 11:00 am AEDT on Thursday, 30 January 2025. An explanatory Scheme Booklet will provide shareholders with crucial information about the proposal, along with insights from an independent expert’s report prepared by BDO Corporate Finance Australia Pty Ltd.
Distribution of Scheme Booklet
The Scheme Booklet, which includes the Independent Expert’s Report, will be dispatched around 24 December 2024. It will be accessible via the Midway website and will be sent directly to shareholders’ registered addresses, based on their communication preferences.
Board’s Recommendation
Each director intends to cast their votes in support of the proposal, considering no superior offers emerge and the expert’s findings remain positive.
Voting Participation Encouraged
All registered shareholders by 7:00 pm AEDT on Tuesday, 28 January 2025, are eligible to vote. Shareholders are encouraged to read the Scheme Booklet thoroughly before making their voting decision.
Motley Fool contributor Abbie Stokes 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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