Australian Vanadium Limited

Scheme of Arrangement has been Implemented

Advanced vanadium developer, Technology Metals Australia Limited (ASX: TMT) (Technology Metals, or the Company), provides the following update on the proposed merger of TMT and Australian Vanadium Limited (AVL) via Scheme of Arrangement (Scheme), under which AVL will acquire 100% of the TMT shares on issue.


TMT advises that the Scheme has now been implemented.

SCHEME CONSIDERATION

All TMT shares have been transferred to AVL. Eligible TMT shareholders who held TMT shares at the Scheme record date, being 4:00pm (AWST) on Wednesday, 24 January 2024 (Scheme Record Date) have been issued 14 new AVL shares for every TMT share held at the Scheme Record Date, in accordance with the terms of the Scheme.

In addition, the new AVL shares otherwise payable to “Ineligible Overseas Shareholders” and “Small Parcel Shareholders” (as defined in the Scheme Booklet) have today been issued to a nominee who has been appointed to sell those shares so that the net proceeds of sale can be distributed to applicable TMT shareholders in accordance with the Scheme (the process of which is set out in the Scheme Booklet).

DELISTING

An application has been made to remove TMT from the official list of ASX, which is expected to take effect on and from 2 February 2024.


Click here for the full ASX Release

This article includes content from Australian Vanadium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

AVL:AU
Australian Vanadium

Australian Vanadium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Australian Vanadium

Australian Vanadium


Keep reading...Show less
Australian Vanadium CEO Graham Arvidson

Australian Vanadium, TMT Merger Boosts Project Economics, CEO Says

The merger between Australian Vanadium (ASX:AVL) and Technology Metals Australia (ASX:TMT) will enable both companies to simplify the strategic imperatives required to advance their vanadium assets, which are being combined, Australian Vanadium CEO Graham Arvidson explained.

“We're both pursuing advanced assets where we need offtake (and) financing, that's debt and equity, and we need to finalise our permitting. And all of that becomes a simpler story,” Arvidson said. "Actually bringing these tenements together offers opportunities as well to improve the economics of the assets."

The completion of the merger between Australian Vanadium and Technology Metals Australia has effectively created Australia's largest publicly traded vanadium developer.

Keep reading...Show less
Australian Vanadium

Australian Vanadium, TMA Merger Creates Australia’s Largest Vanadium Developer

The merger between Australian Vanadium (ASX:AVL) and Technology Metals Australia (ASX:TMT) has positioned the two companies as the largest publicly traded vanadium developer in Australia, according to a news report in PerthNow.

Keep reading...Show less
 Australian Vanadium Limited

Successful Implementation of AVL and TMT Merger

Australian Vanadium Limited (ASX:AVL) is pleased to announce the successful implementation of its merger with Technology Metals Australia Limited (ASX:TMT).

Keep reading...Show less
 Australian Vanadium Limited

Quarterly Activities/Appendix 5B Cash Flow Report

Australian Vanadium Limited (AVL) is pleased to present its Quarterly Activities and Cash Flow Report.

Keep reading...Show less
  SUREFIRE RESOURCES NL

Surefire Develops a Breakthrough Process for Vanadium Extraction

Surefire Resources NL (“Surefire” or “the Company”) is pleased to announce it has achieved a breakthrough process of extracting Vanadium directly from magnetite concentrate out of its 100% owned flagship Victory Bore Vanadium project in Western Australia.

Keep reading...Show less

Largo Reports Fourth Quarter and Full Year 2023 Operational and Sales Results Highlighted by Record Quarterly High Purity V2O5 Production; Provides 2024 Guidance

All amounts expressed are in U.S. dollars, denominated by "$"

Q4 and FY 2023 Highlights

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Australian Vanadium

Australian Vanadium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×