Vonex Limited (ASX: VN8), a full-service telecommunications business offering infrastructure solutions and hosted PBX and VoIP services, predominantly to small to medium enterprise (SME) customers, has announced that its shareholders have overwhelmingly approved the proposed scheme of arrangement for acquisition by Maxo Telecommunications Pty Ltd (MaxoTel). The resolution passed with the requisite majorities at the Scheme Meeting held on 23 September 2025.
According to the announcement, 99.6% of the votes cast by eligible Vonex shareholders were in favour of the scheme resolution. Furthermore, 76.3% of eligible Vonex shareholders voted in favour of the scheme resolution, demonstrating strong support for the proposed acquisition. Details of the valid proxies received and the votes cast are attached to the announcement.
The next step involves Vonex seeking approval from the Supreme Court of New South Wales at a hearing scheduled for 9:15 am (Sydney time) on Thursday, 9 October 2025. If the Court grants approval, Vonex intends to lodge a copy of the Court orders with the Australian Securities and Investments Commission (ASIC) on the same day, at which point the scheme will become effective and Vonex shares will be suspended from trading on the ASX.
Assuming the scheme proceeds as planned, implementation is expected on Monday, 20 October 2025. Vonex shareholders registered on the share register by 5:00 pm (Sydney time) on Monday, 13 October 2025 will be entitled to receive $0.036 cash per Vonex share. Vonex anticipates being delisted from the ASX on Tuesday, 21 October 2025. This announcement has been authorised for release by the Board of Vonex Ltd.
