Xref Limited (ASX:XF1) Scheme of Arrangement with SEEK Not Approved
Voting Results
The scheme of arrangement was approved by 78.82% of Xref shareholders present and voting. However, only 67.60% of the votes cast met the 75% threshold required for approval.
Termination of Scheme
Consequently, Xref and SEEK have agreed to terminate the Scheme Implementation Deed, and the scheme will not proceed.
Next Steps
Xref will continue executing its growth strategy as an independent business and will provide a business update in the coming days.
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 positions in and has recommended Xref. 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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