Federal Court Approves Scheme
Sydney, Feb 16, 2024 AEST (ABN Newswire) - Symbio Holdings Limited (
ASX:SYM) is pleased to provide the following update on the status of the proposed scheme of arrangement under which Aussie Broadband Limited ("ABB") has agreed to acquire 100% of the issued shares in Symbio ("Scheme"). Unless otherwise indicated, capitalised terms used in this announcement but not separately defined have the meaning given to them in the Scheme Booklet released to the ASX on 22 December 2023 ("Scheme Booklet").
The Federal Court of Australia ("Court") has today made orders approving the Scheme.
Symbio advises that it expects to lodge a copy of the Court's orders approving the Scheme with the Australian Securities and Investments Commission ("ASIC") on 19 February 2024, at which time the Scheme will become legally Effective. Symbio will also request that the quotation of Symbio Shares on the ASX be suspended from close of trading on 19 February 2024.
Subject to the Scheme becoming Effective, on the Implementation Date (28 February 2024), Symbio Shareholders will:
- receive the Scheme Consideration to which they are entitled, in accordance with their Election (if a valid Election was made) and subject to the Scaleback Arrangements (for Symbio Shareholders other than Foreign Scheme Shareholders and Small Holders), for each Symbio Share they hold on the Scheme Record Date (5:00pm (Sydney time) on 21 February 2024);
and
- be paid the Agreed Dividend for each Symbio Share they hold on the Agreed Dividend Record Date (5:00pm (Sydney time) on 19 February 2024).
To view the timetable for remaining key milestones, please visit:
https://abnnewswire.net/lnk/FEQGZM1B
About Symbio Holdings Limited
Symbio Holdings Limited (ASX:SYM) is a software company changing the way the world communicates.
Symbio's technology replaces old-fashioned telecom networks with software, making it faster and easier to deliver modern cloud-based communication services, unlocking endless new applications for calling, messaging and phone numbers.
Symbio is the backbone for the global cloud communication industry. Over 500 service providers - from telecom start-ups to the world's biggest software companies - rely on Symbio for the connectivity, quality and expertise they need to solve complex communication challenges.
Headquartered in Sydney, Symbio powers billions of calls and messages each year, owns networks in three countries and employs over 450 staff worldwide.
For more information about Symbio visit www.symbio.global
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