Windlab Limited (ASX:WND) has confirmed that the Supreme Court of New South Wales has approved the scheme of arrangement to complete the acquisition of Windlab by Wind Acquisition 2 Pty Ltd. Some highlights of the arrangement are:
- Scheme was approved by Windlab shareholders at the Scheme Meeting held on 5 June 2020
- WND is expected to lodge a copy of the orders of scheme approval with the Australian Securities and Investments Commission (ASIC) later today after which scheme shall become effective
- Scheme’s record date will be 19 June 2020 to determine entitlement to get payment
The scheme implementation date when payment of the Scheme Consideration to Scheme Investors and transfer of Scheme Shares to the bidder will take place shall be 26 June 2020.