Dropsuite Limited (ASX:DSE) has confirmed that the Scheme of Arrangement for its acquisition by NinjaOne Australia Pty Ltd is now legally effective. The Federal Court of Australia approved the scheme, and Dropsuite has lodged the court orders with ASIC. Trading of Dropsuite shares on the ASX was suspended at the close of trading on May 14, 2025.
Shareholders of Dropsuite will receive $5.90 cash per share held on the Scheme Record Date, which was May 16, 2025. Payment is scheduled for the implementation date, expected to be May 30, 2025. Dropsuite will announce any changes to this timetable on the ASX.
Further information is available to Dropsuite shareholders through the Shareholder Information Line. This announcement has been approved by the Dropsuite Board of Directors.
The court noted that ASIC has no objection to the scheme of arrangement between Dropsuite and its members. The scheme was agreed to by the members at a meeting held on May 9, 2025. The court ordered that the Scheme be approved pursuant to s 411(4)(b) of the Corporations Act and that Dropsuite be exempted from compliance with s 411(11) of the Corporations Act in respect of the Scheme.
