Aston Minerals and Torque Metals Secure Shareholder Backing for Merger
Shareholders of Aston Minerals and Torque Metals have overwhelmingly approved the proposed merger schemes, setting the stage for final court approval and implementation in June 2025.
- Over 99% shareholder approval for merger schemes
- Supreme Court of Western Australia scheduled second hearing for May 28, 2025
- Trading suspension of Aston Minerals shares from May 29, 2025
- Merger implementation expected by June 10, 2025
- Merger subject to customary conditions and final court approval
Shareholder Approval Secured
Aston Minerals Limited (ASO) and Torque Metals Limited (TOR) have reached a significant milestone in their proposed merger, with shareholders and optionholders of both companies overwhelmingly approving the schemes of arrangement. The meetings held on May 22, 2025, saw more than 99% of votes cast in favour of the merger resolutions, comfortably surpassing the required thresholds for approval.
This decisive endorsement reflects strong support from the investor base for the strategic combination of the two Western Australian mining companies, which aims to create a more robust entity positioned for growth in the minerals exploration and development sector.
Next Steps: Court Approval and Implementation
Following shareholder approval, the merger now awaits the second hearing by the Supreme Court of Western Australia, scheduled for May 28, 2025. This hearing will consider the court’s formal approval of the schemes, a critical legal step under the Corporations Act 2001.
Assuming court approval is granted, the merger timetable anticipates the suspension of Aston Minerals’ trading on the Australian Securities Exchange (ASX) from May 29, 2025. The record date for determining entitlements under the scheme is set for June 2, 2025, with the official implementation and issue of scheme consideration expected by June 10, 2025.
Strategic and Market Implications
The merger is designed to consolidate the strengths of both companies, potentially enhancing operational efficiencies and expanding exploration capabilities. Market participants will be watching closely to see how the combined entity positions itself in a competitive mining landscape, particularly in Western Australia’s resource-rich environment.
While the approval marks a positive step forward, the merger remains subject to customary conditions and any final waivers or adjustments as permitted by the court. Investors should remain attentive to any updates from the companies and the court process in the coming weeks.
Bottom Line?
With shareholder approval secured, all eyes turn to the Supreme Court’s final say and the imminent merger execution.
Questions in the middle?
- Will the Supreme Court grant final approval without conditions?
- How will the merger impact the combined company’s exploration and development strategy?
- What are the potential risks if customary conditions are not fully satisfied?
