Veda Group Limited (Veda) (ASX: VED) announced that the Federal Court of Australia has today made orders approving the scheme of arrangement between Veda and its shareholders (Scheme) pursuant to sections 411(4)(b) and 411(6) of the Corporations Act 2001 (Cth) (Court Orders). The Scheme, if implemented, will result in Veda becoming a wholly owned subsidiary of Equifax Inc.
Veda expects to lodge a copy of the Court Orders with the Australian Securities and Investments Commission on Thursday, 11 February, at which point the Scheme will become legally effective. If this occurs, Veda will apply for its shares to be suspended from trading on ASX with effect from the close of trade on the 11 February 2016.
If the Scheme becomes effective, Veda shareholders who hold shares at the Scheme Record Date, expected to be on 18 February 2016, will receive a cash payment of A$2.825 per Veda share on the Implementation Date, which is expected to be Friday, 25 February 2016.
Source: Veda Investor Announcement