The SOA documentation is humengous and I am having difficulty working out the key dates. The following dates from the documentation are as clear as mud to me. I probably have to dig deeper into the many hundred pages of documentation to properly understand, but perhaps someone else has worked it out already.
Last date and time for receipt of Proxy Forms or powers of attorney for the Scheme Meeting:
9:00am (AWST) on 16 October 2023
This doesn't seem to relate to a record date that unequivocally determines how many shares can be voted. It probably is a simple Yes/No vote, quantity independent, but there must be some date based on ESS share ownership that specifies whether one is entitled or not to vote.
Time and date for determining eligibility to vote at the Scheme Meeting:
5:00pm (AWST) on 16 October 2023
This is for those attending in person I presume.
Scheme Meeting: 9:00am (AWST) on 18 October 2023
Effective Date of Scheme. This is the date on which the Court order approving the Scheme is lodged with ASIC and the Scheme becomes Effective. Essential Shares will be suspended from trading on ASX from close of trading:
26 October 2023
Record Date:
30 October 2023
I don't know what this Record Date relates to.
I am used to seeing an explicit Ex Entitlement date given (or something similarly named) that tells you when ESS shares are no longer able to participate in the vote. Is this 12th October, two business days before the first two dates above (16th October).
Should we expect some sort of price action following this unspecified Ex date and 14 days later when ESS shares are suspended from trading. Is the outcome of the vote known before suspension?
All very confusing to this simple mind.
ESS Price at posting:
47.0¢ Sentiment: None Disclosure: Held
