Key points
- 99.64% of votes cast by shareholders approved the scheme
- 89.68% of shareholders present and voting voted in favour
- De Grey to seek court approval on 22 April, with implementation expected on 5 May
Full summary
De Grey Mining Ltd (ASX:DEG) is pleased to announce that its shareholders have voted in favour of the proposed acquisition of the company by Northern Star Resources Ltd (ASX:NST) via a court-approved scheme of arrangement. At the Scheme Meeting held on 16 April 2025, 99.64% of the votes cast by De Grey shareholders were in favour of the scheme, and 89.68% of shareholders present and voting (in person, online or by proxy) voted in favour. De Grey will now seek approval of the scheme from the Federal Court of Australia at the Second Court Hearing scheduled for 22 April 2025. If the Court approves the scheme, De Grey intends to lodge the court orders with ASIC on 23 April, with the scheme becoming effective on that date. De Grey shares will then be suspended from trading on the ASX, and implementation of the scheme is expected to occur on 5 May 2025, subject to the satisfaction or waiver of the remaining conditions precedent.