Court approves ABR plans
PERTH (miningweekly.com) – The Federal Court of Australia has approved a scheme of arrangement under which all the shares in ASX-listed American Pacific Borates (ABR) will be acquired by 5E Advanced Materials.
ABR in October last year announced plans to pursue a primary listing in the US and to change its name to 5E Advanced Materials, in order to deliver shareholder upside from broader investor exposure to its flagship Fort Cady integrated boron facility, in Southern California.
All shares held by ABR shareholders will be transferred to 5E in exchange for the issue of 5E Shares or a 5E CHESS Depositary Interest.
Following implementation of the scheme, 5E will become the ultimate parent company of the ABR Group, will maintain a primary listing on NASDAQ, with 5E shares being listed for trading promptly following the implementation of the scheme, and will maintain a secondary listing on the ASX.
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