Scheme Meeting Update

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Stock Silk Logistics Holdings Ltd (SLH.ASX)
Release Time 13 Jun 2025, 12:59 p.m.
Price Sensitive Yes
 Silk Logistics Holdings Ltd delays Scheme Meeting
Key Points
  • ACCC review of proposed acquisition by DP World Australia delayed beyond scheduled Scheme Meeting date
  • Silk Logistics to approach Supreme Court to postpone Scheme Meeting
  • Updated timetable for Scheme to be announced once new meeting date is set
Full Summary

Silk Logistics Holdings Ltd (ASX:SLH) has announced that it will be postponing its Scheme Meeting, which was originally scheduled for 20 June 2025. This decision is due to the fact that the Australian Competition and Consumer Commission (ACCC) is not expected to complete its review of the proposed acquisition of Silk Logistics by DP World Australia by the scheduled Scheme Meeting date. The ACCC's proposed decision date is 10 July 2025, which falls after the originally scheduled Scheme Meeting and the current End Date set out in the Scheme Implementation Deed (SID). At this stage, the parties have not agreed to extend the End Date. Silk Logistics does not expect DP World Australia to receive the necessary FIRB Approval prior to the original Scheme Meeting date, as the FIRB typically consults with the ACCC and seeks confirmation that the ACCC does not object to the Scheme before providing approval. As a result, Silk Logistics will be approaching the Supreme Court of New South Wales to obtain orders to postpone the Scheme Meeting to a later date. The company will announce an updated timetable for the Scheme once a new meeting date has been set.