Overview of TMT and AVL merger approval

Technology Metals Australia Limited (ASX:TMT) has received approval from the Supreme Court of Western Australia for the dispatch of the Supplementary Scheme Booklet, marking a significant step in the proposed merger with Australian Vanadium Limited (ASX:AVL). The Scheme Meeting is scheduled for Tuesday, 16 January 2024, with an increased consideration of 14 new AVL shares for every 1 TMT share. The TMT Board unanimously recommends that TMT shareholders vote in favor of the Scheme, emphasizing the importance of shareholder participation in the decision-making process.

Executive commentary on the merger and shareholder vote

The TMT Board's unanimous recommendation for TMT shareholders to vote in favor of the Scheme reflects our confidence in the strategic benefits and value creation potential of the proposed merger with AVL. The increased consideration of 14 new AVL shares for every 1 TMT share demonstrates our commitment to delivering enhanced value to our shareholders. We encourage all TMT shareholders to carefully review the Supplementary Scheme Booklet and participate in the upcoming Scheme Meeting to ensure their voices are heard in this pivotal decision-making process.

Overview of the merger and outlook

The approval of the dispatch of the Supplementary Scheme Booklet and the scheduled Scheme Meeting on 16 January 2024 mark significant milestones in the proposed merger between Technology Metals Australia Limited and Australian Vanadium Limited. The increased consideration of 14 new AVL shares for every 1 TMT share underscores the commitment to delivering value to TMT shareholders. As the process moves forward, shareholders are encouraged to engage actively, review the provided materials, and participate in the Scheme Meeting to shape the future of the combined entity. The merger represents a strategic opportunity for both companies to leverage their strengths and create value for their shareholders, and the TMT Board's unanimous recommendation further emphasizes the potential benefits of the proposed combination.