Court approves convening of BKW Share Scheme Meeting

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Stock Brickworks Ltd (BKW.ASX)
Release Time 1 Aug 2025, 5:28 p.m.
Price Sensitive Yes
 Court approves convening of BKW Share Scheme Meeting
Key Points
  • Court orders Brickworks to convene and hold a meeting of shareholders to vote on the BKW Share Scheme
  • Combination Booklet containing information about the BKW Share Scheme to be distributed to shareholders
  • Independent Expert concludes the BKW Share Scheme is fair and reasonable, and in the best interests of shareholders
Full Summary

Brickworks Limited (Brickworks or BKW) refers to the proposed combination of Brickworks and Washington H. Soul Pattinson and Company Limited (Soul Patts) to create a newly capitalised ASX-listed company (First Services Company Ltd (ACN 687 534 023) (Topco)) by way of two separate but inter-conditional schemes of arrangement between Brickworks and its ordinary shareholders (BKW Share Scheme) and between Soul Patts and its ordinary shareholders (SOL Share Scheme). The Supreme Court of New South Wales has made orders that Brickworks convene and hold a meeting of Brickworks shareholders (Shareholders) to consider and vote on the BKW Share Scheme (BKW Share Scheme Meeting) to be held on 10 September 2025, and has approved the distribution to Shareholders of the Combination Booklet which provides information about the BKW Share Scheme, the Notice of BKW Share Scheme Meeting and the Independent Expert's Report (IER). The Independent Expert has concluded that the BKW Share Scheme is fair and reasonable, and is in the best interests of Shareholders, in the absence of a superior proposal. The Brickworks Independent Directors unanimously recommend that Shareholders vote in favour of the BKW Share Scheme, in the absence of a superior proposal and subject to the Independent Expert continuing to conclude that the BKW Share Scheme is in the best interests of Shareholders.