Adriatic Metals (ASX:ADT) said a majority of its shareholders on Friday approved the company's proposed acquisition by Dundee Precious Metals via a Court-sanctioned scheme of arrangement, according to a same-day Australian bourse filing.
A total of 99.27% of the votes cast by eligible shareholders in the meeting were in favor of the acquisition, per the filing.
The company will seek orders from the Court for the approval of the scheme at the hearing currently scheduled for Aug. 29, the filing added.