Qube Holdings Limited (ASX:QUB) announced on 22 April 2026 it has secured a waiver from ASX Listing Rule 7.40 for its proposed scheme of arrangement. Qube, a prominent integrated provider of logistics and port services across Australia, is the target of a proposed 100% acquisition by Rubik Australia Pty Limited. This waiver permits Qube to implement the Scheme on an alternative timetable, departing from the standard schedule prescribed by ASX Listing Rules.
This adjustment primarily facilitates a special dividend payment post-Scheme. Qube intends to fully frank any declared special dividend, offering additional value to eligible shareholders utilising franking credits. The revised timeline also accommodates Rubik Australia’s fund drawdown for the cash scheme consideration. ASX granted the Listing Rule 7.40 waiver, permitting deviation from Appendix 7A’s timetable.
ASX’s approval includes specific conditions. Qube must provide satisfactory disclosure in the Scheme booklet and on the Scheme effective date regarding consequences for investors trading shares. The approved timetable cannot be altered without advance ASX approval. Qube anticipates despatching notices of meeting and a scheme booklet after the first court hearing, scheduled 23 April 2026.
Court-convened scheme meetings are anticipated for June 2026. The Qube Board unanimously recommends shareholders vote in favour of the Scheme, contingent on no superior proposal and an independent expert concluding the Scheme is in shareholders’ best interests (excluding UniSuper). Board members intend to vote their controlled shares in favour.
