Technology Metals Australia Ltd (ASX:TMT, OTC:TMAUF) has received orders from the Supreme Court of Western Australia to convene a scheme meeting, having approved the dispatch of a scheme booklet for the proposed merger with Australian Vanadium Ltd (ASX:AVL, OTCQB:ATVVF).
The proposed merger between the two vanadium companies would take place via a scheme of arrangement, under which AVL will acquire 100% of the TMT shares on issue.
The TMT board continues to unanimously recommend that shareholders vote in favour of the scheme, in absence of a superior proposal and subject to the continued conclusion by an independent expert that the scheme is in the best interests of shareholders.
Scheme booklet and meeting
TMT will hold the scheme meeting on Tuesday, January 16, 2024, at 10:00 am AWST at level 3, 88 William Street, Perth, WA, 6000.
Shareholders registered as of the proceeding Sunday will be eligible to vote, with further information on how to participate and vote available in the scheme booklet.
The booklet itself will be registered with the Australian Securities and Investments Commission (ASIC) and then released.
TMT expects to dispatch the booklets by December 12, 2023, via either electronic communications or letter.
In order for the scheme to proceed, it must be approved by the requisite majority at the scheme meeting and then by the Supreme Court of Western Australia.