Allkem Limited (ASX and TSX: AKE) has announced the Federal Court of Australia’s approval for the proposed merger with Livent Corporation. The approval marks a significant milestone towards the scheme of arrangement where Arcadium Lithium plc will acquire all shares of Allkem in relation to the merger. The Court’s orders are set to be lodged with the Australian Securities and Investments Commission on 21 December 2023, whereby the scheme will become legally effective.
Trading Suspension and Scheme Consideration Details
Following the successful court approval, Allkem anticipates a suspension from trading on ASX after the close of trading on 21 December 2023 and on TSX at 4:00 pm Toronto time on the same day. Arcadium Lithium CDIs will begin trading on ASX on a deferred settlement basis on 22 December 2023, transitioning to normal settlement trading on 5 January 2024. Moreover, Arcadium Lithium shares are expected to start trading on New York Stock Exchange on 4 January 2023.
Key Transaction Dates
The scheme timetable outlines essential dates for shareholders, including the Election Date of 20 December 2023 for share registry elections, the Record Date on 27 December 2023 to determine entitlements to scheme consideration, and the Scheme Implementation Date set for 4 January 2024.
All dates mentioned are indicative and subject to change. For any variations, announcements will be made through ASX and communicated to shareholders.
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