Lotus Resources Limited (ASX: LOT | OTCQB: LTSRF) has announced that at the A-Cap share scheme meeting held earlier this month, the requisite majorities of A-Cap shareholders voted in favour of the proposed scheme of arrangement under which Lotus proposed to acquire 100% of the shares on issue in A-Cap.
In addition, the majority of A-Cap listed option holders voted in favour of the separate proposed scheme of arrangement between A-Cap and its listed option holders, under which Lotus would acquire 100% of A-Cap listed options.
Managing director, Keith Bowes, commented, “The company is exceptionally pleased with the results of the A-Cap share and option holder meetings and recognizes the trust that they have put in the Lotus team to manage both the Letlhakane Uranium Project and the Wilconi Ni/Co Project. We take the results as being a strong endorsement from them to execute the strategy we have put forward in the announcements and presentations made during and after the Scheme Implementation Deed release.”
The schemes remain subject to the approval of the court at the hearing scheduled for 26 October 2023. If the outstanding conditions precedent are satisfied or waived prior to the second court hearing, and the court approves the schemes, A-Cap proposes to lodge an office copy of the orders of the court with the Australian Securities and Investments Commission, at which time the schemes will become effective.
To find out more, please visit www.lotusresources.com.au
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