Shareholders in Vimy Resources (ASX: VMY) have today voted overwhelmingly in favour of a proposed scheme of arrangement pursuant to which Deep Yellow (ASX:DYL, OTCQX:DYLLF) will acquire all of the shares in Vimy.
In summary:
- 96.57% of Vimy shareholders present and voting at the scheme meeting voted in favour of the scheme resolution; and
- 99.00% of the total number of votes cast by Vimy shareholders at the scheme meeting were in favour of the scheme resolution.
Vimy will now seek approval of the Scheme by the Supreme Court of Western Australia at a second court hearing scheduled for 26 July 2022. If the court approves the scheme at the second court hearing, Vimy intends to lodge a copy of the orders of the court with the Australian Securities and Investments Commission on 27 July 2022 so that the scheme will become effective on that date. If this occurs, Vimy shares will be suspended from trading on ASX with effect from close of trading on 27 July 2022.
Implementation of the scheme is expected to occur on 4 August 2022, subject to the satisfaction or waiver of the remaining conditions precedent to the Scheme.
Under the terms of the scheme, Vimy shareholders will receive 0.294 Deep Yellow shares for every one of theirs. Upon implementation of the scheme, Vimy shareholders will hold 47% of the enlarged Deep Yellow.
The merger will create a new global uranium player with significant scale and cash resources, one of the largest uranium Mineral Resource inventories globally (389Mlb ) and two advanced, world-class assets in Tier-1 uranium mining jurisdictions.
Read the ASX announcement
Read the scheme meeting presentation materials
