Scheme Approved by Patersons Shareholders
Scheme Approved by Patersons Shareholders

On 11 June 2019, Patersons Securities Limited (Patersons) announced a transaction under which it is proposed that Canaccord Financial Group (Australia) Pty Ltd will acquire 100% of the issued share capital of Patersons for cash consideration via a scheme of arrangement (Scheme).

Patersons is pleased to announce that Patersons shareholders today voted in favour of the resolution to approve the Scheme, and a resolution connected to the Scheme, by the requisite majorities required under the Corporations Act 2001 (Cth).

Patersons will seek approval for the Scheme from the Federal Court of Australia (Court) at a hearing scheduled for 10.15 am (Perth time) on Monday 7 October 2019.

If the Court approves the Scheme, Patersons intends to lodge a copy of the orders of the Court with the Australian Securities and Investments Commission on Tuesday 8 October 2019. Once this occurs, the Scheme will become legally effective. It is anticipated that the Scheme will be implemented on Tuesday 22 October 2019.

Patersons shareholders are encouraged to read the Scheme Booklet dated Monday 2 September 2019, and despatched to them on Tuesday 3 September 2019, for further information.

If any Patersons shareholder has questions about the Scheme Booklet, the Scheme or the proposed transaction, please contact Timothy Platts on +61 8 9263 1223 between 9.00 am and 5.00 pm (Perth time) Monday to Friday.