Altium Scheme of Arrangement Legally Effective
Key points
- Altium's acquisition by Renesas Electronics approved by Supreme Court
- Altium shares to be suspended from ASX trading after today
- Altium shareholders to receive A$68.50 per share on August 1, 2024
Full summary
Altium Limited (ASX: ALU) has announced that the Supreme Court of New South Wales has approved the proposed acquisition of Altium by Renesas Electronics NSW Pty Ltd, an indirect wholly owned subsidiary of Renesas Electronics Corporation (TSE: 6723). Altium has lodged an office copy of the Court orders with the Australian Securities and Investments Commission, making the scheme of arrangement legally effective. As a result, quotation of Altium shares on the ASX will be suspended from the close of trading today. Altium shareholders who own shares at 7:00 pm (AEDT) on July 25, 2024 will receive A$68.50 for each Altium share held, with the implementation of the scheme occurring on August 1, 2024. The timetable is indicative and subject to change, with Altium to announce any changes to the ASX.
Guidance
Altium shareholders will receive A$68.50 per share on August 1, 2024.
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