Scheme of Arrangement Becomes Legally Effective

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Stock Eumundi Group Ltd (EBG.ASX)
Release Time 5 Feb 2025, 12:57 p.m.
Price Sensitive Yes
 Eumundi Group Scheme of Arrangement Becomes Legally Effective
Key Points
  • Eumundi Group Ltd's scheme of arrangement with SEQ Hospitality Group Pty Ltd approved by Federal Court
  • Eumundi shares to be suspended from trading on ASX after close today
  • Eumundi shareholders to receive $1.62 per share on implementation date of February 14, 2025
Full Summary

Eumundi Group Limited (Eumundi) has announced that its scheme of arrangement with SEQ Hospitality Group Pty Ltd (SEQ) has become legally effective following approval by the Federal Court of Australia. The scheme will result in SEQ acquiring 100% of the issued shares in Eumundi. Eumundi has lodged a copy of the Court Orders approving the scheme with the Australian Securities and Investments Commission (ASIC). As a result, the scheme is now legally effective, and it is expected that quotation of Eumundi shares on the ASX will be suspended from the close of trading today, 5 February 2025. On the implementation date of 14 February 2025, Eumundi shareholders will receive the cash consideration under the scheme of $1.62 per Eumundi share held at the record date of 7:00pm (Sydney time) on 7 February 2025. Eumundi shareholders are encouraged to refer to the Scheme Booklet for more information and to contact the company's Company Secretary if they have any questions.