Australian Strategic Materials (ASX:ASM) said it expects the schemes of arrangement for the proposed acquisition of the firm by EFR Critical Materials, a wholly-owned unit of Energy Fuels, to be implemented before the end of August, subject to securityholder and court approval, according to a Friday Australian bourse filing.

It expects the meetings to approve the schemes of arrangement for the proposed acquisition of the firm by EFR Critical Materials to occur in early to mid-August. It expects to dispatch the supplementary scheme booklet to its securityholders around late July.

Its shares fell 3% in recent trading on Friday.