Vimy Resources Limited (ASX:VMY, OTCQB:VMRSF) and Deep Yellow Limited (ASX: DYL, QTCQX: DYLLF) are pleased to provide an update on the proposed merger pursuant to which Deep Yellow will acquire all of the shares in Vimy by way of a scheme of arrangement.
The Supreme Court of Western Australia today made orders for the convening of the Vimy shareholders’ scheme meeting and approving the dispatch of the scheme booklet.
The scheme booklet is expected to be dispatched to Vimy shareholders on June 20 ahead of the scheme meeting, which is expected to be held on July 20.
The scheme booklet will include a copy of the independent expert’s report, prepared by Deloitte Corporate Finance, which has concluded the scheme is fair and reasonable and in the best interests of Vimy shareholders.
The directors of Vimy continue to unanimously recommend that Vimy shareholders vote in favour of the scheme at the scheme meeting, in the absence of a superior proposal and subject to the independent expert concluding in the independent expert’s report (and continuing to conclude) that the scheme is in the best interests of Vimy shareholders.
