InvestSMART

Australian Strategic Materials Limited (ASX:ASM)

ALERT: Price-sensitive ASX Announcement for ASM
Current share price for ASM : $1.025 -0.295 (-22.35%)+
Release
24 Jun 2026 8:27AM
Price at Release
$1.320
Full Release
download
Summary
On June 24, 2026, Australian Strategic Materials Limited (ASM) announced an update regarding the acquisition by EFR Critical Materials Pty Ltd, a subsidiary of Energy Fuels Inc., of 100% of ASM's shares and options via separate schemes of arrangement. The announcement highlights a definitive agreement by Energy Fuels to acquire Vacuumschmelze GmbH & Co. KG and notes a conditional US$725 million financing from the U.S. Office of Strategic Capital. The schemes' meetings were postponed to allow for additional disclosures due to these developments. The ASM Board strongly recommends securityholders vote in favor of the schemes, barring a superior proposal.
Key Points
  • Energy Fuels to acquire 100% of ASM shares
  • Separate schemes for shares and options
  • Energy Fuels definitive agreement to acquire VAC
  • US$725 million financing from U.S. Office of Strategic Capital
  • Postponed scheme meetings for additional disclosures
  • ASM Board recommends voting in favor
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.