InvestSMART

Australian Strategic Materials Limited (ASX:ASM)

ALERT: Price-sensitive ASX Announcement for ASM
Current share price for ASM : $1.170 -0.065 (-5.26%)+
Release
12 Aug 2026 4:30PM
Price at Release
$1.235
Full Release
download
Summary
Australian Strategic Materials Limited (ASM) announced the approval of two schemes of arrangement at their Scheme Meetings on 12 August 2026. The Share Scheme and Option Scheme, proposed for the acquisition by EFR Critical Materials Pty Ltd, a subsidiary of Energy Fuels Inc., received overwhelming support from ASM Shareholders and Optionholders. Specifically, 98.23% of the votes by shareholders and 99.97% by optionholders were in favor of the respective schemes. Following this approval, ASM will seek court approval from the Federal Court of Australia on 18 August 2026, after which the schemes are expected to become effective on 19 August 2026, with the implementation slated for 28 August 2026. Trading of ASM securities on ASX will be suspended post approval, and the shares will be replaced by New Energy Fuels shares and CDIs.
Key Points
  • ASM Share Scheme and Option Scheme approved
  • EFR Critical Materials Pty Ltd to acquire ASM
  • Share Scheme received 98.23% support from shareholders
  • Option Scheme received 99.97% support from optionholders
  • Court approval sought on 18 August 2026
  • Schemes become effective on 19 August 2026
  • Implementation scheduled for 28 August 2026
  • ASM securities to be suspended from ASX trading
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.