Tawana Resources’ NL (ASX:TAW) scheme of arrangement with Alliance Mineral Assets Limited for Alliance to acquire 100% of Tawana’s shares is now effective.
The scheme went into effect after Tawana lodged a copy of the Federal Court of Australia’s orders approving the merger with the Australian Securities and Investments Commission (ASIC).
Tawana will apply for its shares to be suspended from trading on the ASX and JSE from the close of trading today.
It is expected that Alliance will start trading on the ASX from 10am on Wednesday, December 5, under the ASX ticker A40 on a deferred settlement basis.
Scheme consideration will be issued on Friday, December 14 and Alliance shares are expected to begin trading on the ASX on a normal settlement basis on Monday, December 17.
Under the scheme, Tawana shareholders will receive 1.1 Alliance shares per Tawana share held on the record date of Friday, December 7.