DSE.ASX: Federal Court of Australia approves Scheme of Arrangement

Federal Court of Australia approves Scheme of Arrangement

Stock	Dropsuite Ltd (DSE.ASX)
Release Time	14 May 2025, 2:59 p.m.
Price Sensitive	Yes

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Federal Court approves Dropsuite's Scheme of Arrangement

Key Points

Federal Court of Australia approves Scheme of Arrangement
Dropsuite shareholders to receive $5.90 cash per share
Scheme expected to become effective today, 14 May 2025

Full Summary

Dropsuite Limited (ASX:DSE) has announced that the Federal Court of Australia (Victoria Registry) has made orders approving the Scheme of Arrangement for the proposed acquisition of all the issued shares in Dropsuite by NinjaOne Australia Pty Ltd. Dropsuite expects to lodge a copy of the Court orders with the Australian Securities and Investments Commission (ASIC) today, 14 May 2025, at which time the Scheme will become legally Effective. Dropsuite will also request that the quotation of Dropsuite Shares on the ASX be suspended from close of trading on the date the Scheme becomes Effective, which is expected to be today. Subject to the Scheme becoming Effective, Dropsuite Shareholders will be entitled to receive the Scheme Consideration of $5.90 cash per Dropsuite Share held on the Scheme Record Date, which is currently expected to be 7.00pm (Melbourne time) on Friday, 16 May 2025. The Scheme Consideration will be paid to Dropsuite Shareholders on the implementation date, which is currently expected to be Friday, 30 May 2025. Dropsuite Shareholders can obtain further information in relation to the Scheme by contacting the Dropsuite Shareholder Information Line.