Court approves convening of Scheme Meeting

Open PDF
Stock Envirosuite Ltd (EVS.ASX)
Release Time 1 Jul 2025, 12:47 p.m.
Price Sensitive Yes
 Court approves convening of Scheme Meeting
Key Points
  • Court orders Envirosuite to convene and hold a meeting of shareholders to vote on proposed acquisition
  • Scheme Booklet containing Independent Expert's Report to be distributed to shareholders
  • Envirosuite Board unanimously recommends shareholders vote in favor of the Scheme
Full Summary

Envirosuite Limited (ASX: EVS) has announced that the Federal Court of Australia has made orders for the company to convene and hold a meeting of Envirosuite shareholders to consider and vote on the proposed acquisition of Envirosuite by Ideagen EVS BidCo Pty Limited, an indirect wholly owned subsidiary of Ideagen Limited, by way of a scheme of arrangement ('Scheme'). The Court has also approved the distribution to Envirosuite shareholders of the Scheme Booklet, which provides information on the Scheme, Notice of Scheme Meeting and the Independent Expert's Report. The Scheme Meeting is scheduled to be held virtually at 9:00am (Melbourne time) on Friday, 1 August 2025, where Envirosuite shareholders will vote on the proposed Scheme. The Scheme Booklet, including the Independent Expert's Report, is expected to be despatched to shareholders by 4 July 2025. The Independent Expert has concluded that the Scheme is fair and reasonable and hence in the best interests of Envirosuite Shareholders, in the absence of a superior alternative proposal emerging. The Envirosuite Board unanimously recommends that its shareholders vote in favor of the Scheme, in the absence of a superior proposal and subject to the Independent Expert continuing to conclude that the Scheme is in the best interests of Envirosuite shareholders.