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Matrix Composites & Engineering Limited (ASX:MCE)

ALERT: Price-sensitive ASX Announcement for MCE
Current share price for MCE : $0.398 0.003 (0.63%)+
Announcement
Release
6 Jul 2026 2:13PM
Price at Release
$0.395
Full Release
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Summary
Matrix Composites & Engineering Ltd has announced that the requisite majorities of its shareholders have approved the proposed acquisition of 100% of its issued share capital by Advanced Innergy Solutions Australia Pty Ltd through a scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth). A significant 99.8% of shareholder votes were in favor, and the company will now seek approval from the Federal Court of Australia. If approved, the scheme will become effective on 14 July 2026, with Matrix shares being suspended from ASX trading and delisting occurring on 24 July 2026. The scheme's implementation is expected on 23 July 2026.
Key Points
  • Matrix Composites & Engineering Ltd announced the approval of the scheme by requisite majorities of shareholders.
  • The acquisition involves 100% of Matrix's issued share capital by Advanced Innergy Solutions Australia Pty Ltd.
  • The scheme is under Part 5.1 of the Corporations Act 2001 (Cth).
  • 99.8% of the total votes were in favor of the scheme resolution.
  • Next step involves seeking approval from the Federal Court of Australia.
  • The scheme's effective date is anticipated to be 14 July 2026.
  • Matrix shares will be suspended from trading on the ASX post-approval.
  • Implementation of the scheme is expected on 23 July 2026.
  • Matrix will be delisted from the ASX on 24 July 2026.
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.