Southern Cross Gold Ltd (ASX:SXG) Scheme Becomes Legally Effective
Further to a prior announcement, Southern Cross Gold Ltd (ASX:SXG) has confirmed that its scheme of arrangement, permitting Southern Cross Gold Consolidated Ltd (TSXV:SXGC) to acquire 100% of SXG shares not already owned, is now legally effective. This significant step comes after approval from the Supreme Court of New South Wales.
Implementation Timeline
SXG shares will be suspended from trading today, Wednesday 15 January 2025. The implementation of the scheme is expected to take place on Friday, 24 January 2025, with shareholders on record as of 7:00 pm on 17 January 2025 scheduled to receive the Scheme Consideration.
Regulatory Approval
The orders made by the Supreme Court have been lodged with the Australian Securities and Investments Commission, fulfilling the necessary legal requirements under the Corporations Act 2001 (Cth).
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.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.