Alumina Limited (AWC) has registered the Scheme Booklet with the Australian Securities and Investments Commission (ASIC) in relation to the proposal for Alcoa Corporation to acquire 100% of the fully paid ordinary shares in Alumina by way of a scheme of arrangement. The Scheme Meeting is scheduled for 2pm (AEST) on Thursday, 18 July 2024, and all registered Alumina shareholders as at 7.00pm (AEST) on Tuesday, 16 July 2024 will be eligible to vote at the Scheme Meeting.
The Alumina Board recommends that Alumina shareholders vote in favour of the Scheme, subject to the Independent Expert continuing to conclude that the Scheme is in the best interests of Alumina shareholders. The Scheme Booklet includes a copy of the independent expert's report prepared by Grant Samuel & Associates Pty Limited, which concluded that the Scheme is fair and reasonable and is in the best interests of Alumina Shareholders, in the absence of a superior proposal.
The Scheme Booklet provides detailed information regarding the proposed Scheme of Arrangement with Alcoa, including voting requirements, release from liability and indemnification of directors and officers, disclosure obligations, takeover protections, winding up, and additional information for US Alumina Shareholders and Alumina ADS Holders. Alumina shareholders are encouraged to carefully review the Scheme Booklet before making a decision. The acquisition proposal signifies a significant development for Alumina Limited and its shareholders, with the Scheme Meeting presenting a crucial juncture for the company's future direction.
Hmm, interesting about Alumina. Not sure how I feel about this Alcoa takeover yet. Need to see more details.