Indophil Resources advises that the Supreme Court of Victoria has made orders approving the Scheme of Arrangement between Indophil and its shareholders under which Alsons Prime Investments Corporation will acquire all of the fully paid ordinary shares in Indophil that it does not already own.
This follows the approval of the scheme by Indophil shareholders at a meeting in December. A copy of the court orders has been lodged with the Australian Securities and Investments Commission, and the scheme is now effective.
Indophil securities were, therefore, suspended from ASX quotation at the close of trading on Tuesday, January 13. The implementation date for the scheme is scheduled for January 23 and the scheme consideration payment is expected to be dispatched to Indophil shareholders by January 29.