Alliance has received a ‘no objection’ ruling from the Singapore Exchange Securities Trading Limited (SGX-ST) in response to its application for a waiver from compliance with Catalist Rule 1015 in respect to the proposed Merger (Waiver).
Alliance has received a notice of “no objection” to the Merger from the Australian Treasurer. This satisfies the “FIRB approval” condition in the Scheme Implementation Agreement between Tawana and Alliance.
Tawana is currently preparing the Scheme Booklet, which is expected to be provided for ASIC review near the start of July 2018 and be available for despatch to Tawana shareholders in late July 2018.
Alliance’s general meeting to approve the A$7.8m placement to Burwill Holdings Ltd, an existing substantial shareholder of Alliance, is scheduled for 25 June 2018.
Tawana released the Notice of Meeting regarding the demerger of its non- core assets into Cowan Lithium Limited on 1 June 2018, with the meeting to approve the proposed demerger being scheduled for 6 July 2018.
TAW Price at posting:
42.0¢ Sentiment: Hold Disclosure: Held
