SXL.ASX: Scheme of arrangement becomes legally effective

Scheme of arrangement becomes legally effective

Stock	Southern Cross Media Group Ltd (SXL.ASX)
Release Time	24 Dec 2025, 11:14 a.m.
Price Sensitive	Yes

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Southern Cross Media Group Ltd Scheme of Arrangement Becomes Effective

Key Points

Scheme of Arrangement between Southern Cross Media Group Ltd and Seven West Media Ltd approved by Supreme Court
SWM shares to be acquired by SXL, with SWM shareholders receiving 0.1552 SXL shares per SWM share
SWM shares expected to be suspended from ASX trading after close today

Full Summary

Southern Cross Media Group Limited (SXL) has announced that the Scheme of Arrangement (Scheme) under which all of the issued shares in Seven West Media Limited (SWM) will be acquired by SXL has become legally effective. This follows the approval of the Scheme by the Supreme Court of New South Wales yesterday. SWM has now lodged an office copy of the Court orders with the Australian Securities and Investments Commission (ASIC) pursuant to the Corporations Act 2001. The Scheme is now legally effective, and the quotation of SWM Shares on the ASX are expected to be suspended from the close of trading today. On the Implementation Date (expected to be 7 January 2026), SWM shareholders will receive 0.1552 Southern Cross shares per SWM share held at 7:00pm (Sydney time) on 30 December 2025.