Australian Strategic Materials Delays Energy Fuels Scheme Meetings After $725 Million US Funding Deal
MT Newswires Live
Jun 19
Australian Strategic Materials (ASX:ASM) has postponed its June 22 scheme meetings with Energy Fuels after a $725 million financing commitment triggered additional disclosure requirements, according to a Friday filing with the Australian bourse.
The companies will prepare a supplementary scheme booklet, subject to Australian Securities and Investments Commission review and court approval, before progressing the transaction, per the filing.
The company's board has reaffirmed its unanimous recommendation that shareholders vote in favor of the schemes, absent a superior proposal, and subject to the independent expert maintaining a favorable conclusion, the filing added.
The company's shares rose 2% in recent Friday trade.
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