Scheme of arrangement becomes legally effective
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| Stock | Seven West Media Ltd (SWM.ASX) |
|---|---|
| Release Time | 24 Dec 2025, 11:14 a.m. |
| Price Sensitive | Yes |
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Seven West Media Scheme of Arrangement Becomes Effective
Key Points
- Scheme of Arrangement between Seven West Media and Southern Cross Media approved by Supreme Court
- SWM shares to be acquired by SXL at 0.1552 SXL shares per SWM share
- SWM shares expected to be suspended from ASX trading today
Full Summary
Southern Cross Media Group Limited (SXL) has confirmed that the Scheme of Arrangement to acquire all issued shares in Seven West Media Limited (SWM) has become legally effective following approval by the Supreme Court of New South Wales. SWM has lodged an office copy of the Court orders with the Australian Securities and Investments Commission (ASIC), making the Scheme legally effective. As a result, the quotation of SWM shares on the ASX are expected to be suspended from the close of trading today. Under the Scheme, SWM shareholders will receive 0.1552 Southern Cross shares per SWM share held at 7:00pm (Sydney time) on 30 December 2025. The Scheme was previously approved by SWM shareholders at a meeting held on 10 December 2025.
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