Vonex Limited (ASX:VN8) Scheme Implementation Deed Update

Vonex Limited (ASX:VN8) has provided an update on the Scheme Implementation Deed with Maxo Telecommunications Pty Ltd for the acquisition of 100% of Vonex's share capital. The Supreme Court of New South Wales has approved the distribution of the Supplementary Scheme Booklet, which includes information about the revised scheme consideration of $0.0419 cash per Vonex share payable to Vonex Shareholders. The Scheme Meeting is scheduled to be held on 23 October 2024.

Executive Commentary on Scheme Implementation Deed Update

The Directors of Vonex unanimously recommend shareholders vote in favor of the Scheme, and the Independent Expert has concluded that the Scheme is in the best interest of Vonex shareholders. The Scheme Booklet and Supplementary Scheme Booklet contain important information about the Scheme, and Vonex shareholders are encouraged to read them in their entirety before deciding whether or not to vote in favor of the Scheme.

Summary of Vonex Limited's Scheme Implementation Deed Update

Vonex Limited (ASX:VN8) has released a Supplementary Scheme Booklet providing details of MaxoTel's on-market acquisitions of Vonex Shares and the impact of the increased consideration on the Proposed Transaction. The Revised Proposed Transaction offers an increased consideration of 4.19 cents per Vonex share, which has been analyzed by Titan Partners Corporate Finance in the Supplementary Independent Expert's Report. The report concludes that the Revised Proposed Transaction is fair and reasonable and in the best interests of Existing Shareholders. The Deed of Variation to the Scheme has been provided, reflecting the amendments to the Scheme Implementation Deed and Scheme. Shareholders are encouraged to carefully read the Supplementary Scheme Booklet and seek their own investment or professional advice before making any decisions in relation to the Scheme.