Court Greenlights On Nut Road’s Full Takeover of Donaco International
The Supreme Court of New South Wales has approved the acquisition scheme for Donaco International by On Nut Road Limited, setting the stage for share suspension and final payment in August 2025.
- Supreme Court approves scheme of arrangement for Donaco acquisition
- On Nut Road Limited to acquire remaining shares in Donaco
- Scheme becomes effective upon ASIC lodgement expected 8 August 2025
- Donaco shares to be suspended from ASX trading post-approval
- Key dates, record date 12 August, payment date 19 August 2025
Court Approval Marks Major Milestone
Donaco International Limited has reached a pivotal moment in its corporate journey with the Supreme Court of New South Wales granting approval for the proposed scheme of arrangement. This legal endorsement clears the path for On Nut Road Limited to acquire 100% ownership of Donaco, consolidating its stake in the gaming and leisure company.
The scheme, which has been under consideration since the announcement of the Scheme Implementation Deed earlier this year, now moves closer to completion with the court’s blessing. This approval is a critical regulatory hurdle, signaling confidence in the transaction’s compliance with Australian corporate law.
Next Steps and Shareholder Impact
The scheme will become legally effective once the court orders are lodged with the Australian Securities and Investments Commission (ASIC), a process expected to occur on 8 August 2025. Upon this lodgement, Donaco shares will be suspended from trading on the ASX, marking the end of public market activity for the company’s stock.
Shareholders should note the key dates ahead, the record date for determining entitlements to the scheme consideration is set for 12 August 2025, with the implementation and payment date scheduled for 19 August 2025. These dates are indicative and subject to change, but they provide a clear timeline for the finalisation of the acquisition and the distribution of consideration to shareholders.
Strategic and Market Implications
This acquisition represents a significant consolidation in the gaming and leisure sector, with On Nut Road Limited moving to full ownership of Donaco’s assets and operations. While financial terms and strategic rationale remain under wraps, the court’s approval and the structured timetable suggest a smooth transition ahead.
Market participants will be watching closely as Donaco’s shares exit the ASX, with the suspension effective from the close of trading on 8 August. The move removes Donaco from public trading, potentially impacting liquidity and investor access but also simplifying corporate governance under a single owner.
Looking Ahead
As the scheme moves toward implementation, shareholders and analysts alike will be keen to see how the acquisition reshapes Donaco’s future. The coming weeks will be crucial in confirming the final steps and ensuring all parties receive their due consideration promptly.
Bottom Line?
With court approval secured, Donaco’s acquisition by On Nut Road is set to reshape its market presence by mid-August.
Questions in the middle?
- What are the financial terms and valuation metrics underpinning the acquisition?
- How will On Nut Road integrate Donaco’s operations post-acquisition?
- Could there be any regulatory or market risks delaying the scheme’s final implementation?