Australian Strategic Materials Says Federal Court to Hear Application for Approving Schemes for Proposed Acquisition by Energy Fuels Unit, Shares Fall 3%

MT Newswires Live

08/06

Australian Strategic Materials (ASX:ASM) said the Federal Court of Australia, Western Australian Registry, will hear an application on Aug. 18 seeking the approval of schemes of arrangement for its proposed acquisition by EFR Critical Materials, a wholly-owned unit of Energy Fuels, subject to approval by its shareholders and option holders on Aug. 12, according to a Thursday Australian bourse filing.

The Shareholders and option holders have the right to appear at the court hearing and may oppose the approval of the schemes.

Its shares fell 3% in recent trading on Thursday.

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