Australian Strategic Materials Limited (ASX:ASM) has provided an update regarding the proposed acquisition by EFR Critical Materials Pty Ltd, a wholly owned subsidiary of Energy Fuels Inc. The company, which is focused on the development and production of strategic and critical materials, confirmed the scheduling of a Second Court Hearing for its two concurrent schemes of arrangement. These schemes pertain to the acquisition of 100% of ASM’s fully paid ordinary shares by way of a members’ scheme and 100% of its quoted options through a separate creditors’ scheme.
The Federal Court of Australia, Western Australian Registry, will hear ASM’s application for approval of the Share Scheme and Option Scheme at 10:15 AM (AWST) on Tuesday, 18 August 2026. This hearing is contingent on ASM shareholders approving the proposed resolution for the Share Scheme at a meeting scheduled for 11:30 AM (AWST) on 12 August 2026. Similarly, the Option Scheme requires approval from ASM optionholders at their meeting, set for the later of 12:00 PM (AWST) on 12 August 2026 or the conclusion of the Share Scheme Meeting. Both shareholder and optionholder meetings will be held at Dexus Place Perth.
ASM noted that both ASM Shareholders and Optionholders retain the right to appear and be heard at the Second Court Hearing. They may oppose the approval of the respective schemes. Those wishing to oppose the schemes are required to file and serve a notice of appearance, along with any supporting affidavit, on ASM at its address for service at least one day prior to the date fixed for the hearing. Further details regarding the schemes are available in the Scheme Booklet dated 18 May 2026 and the Supplementary Scheme Booklet dated 27 July 2026.
