Cannatrek Acquisition Timetable Updated with New Court Date and Shareholder Meeting

Federal Court Hearing Delayed to Late May

Little Green Pharma Ltd (ASX:LGP) has announced the Federal Court of Australia has adjourned the critical second court hearing for its acquisition of Cannatrek Ltd to 10:00am (Melbourne time) on Monday, 25 May 2026. This pushes back the previously scheduled hearing and delays the formal court approval of the scheme of arrangement that will transfer full ownership of Cannatrek to LGP.

Key Dates Set for Shareholder Vote and Scheme Implementation

The updated timetable outlines that LGP shareholders will vote on the scheme consideration resolution at a meeting on 22 May 2026, with proxy forms due by 3:30pm (Perth time) on 20 May. The effective date for the scheme, contingent on court approval, is also set for 25 May, with the issuance of consideration securities and scheme implementation planned for 1 June 2026.

These dates are indicative and subject to change pending final court and regulatory approvals, underscoring the procedural complexity involved. The scheme record date for determining entitlements to new securities is set for 7:00pm (Melbourne time) on 25 May.

Acquisition Progresses Amid Regulatory and Shareholder Milestones

This timetable adjustment follows the earlier postponement of the shareholder vote on the scheme consideration resolution to May 22, allowing extra time to satisfy outstanding conditions before finalising the deal. Other shareholder resolutions proceeded as planned on 22 April, reflecting a staggered approach to securing approvals.

Notably, Cannatrek shareholders had overwhelmingly approved the acquisition scheme in early April, with 96.15% voting in favour, clearing a major hurdle for LGP’s expansion strategy. The acquisition will give LGP full control over Cannatrek’s operations, complementing its existing vertically integrated medicinal cannabis business spanning Australia and Europe.

Little Green Pharma operates three production facilities, including the largest in Europe, and holds significant market positions in Australia, France, Germany, and the UK. The Cannatrek acquisition is expected to bolster LGP’s footprint and product portfolio in these high-growth markets.

Given the updated timetable and the pending court approval, investors will be watching how the company navigates the final regulatory steps and integrates Cannatrek into its operations. The revised schedule also ties into the company’s broader strategic moves, including the recent termination of a planned sale and leaseback of its Western Australian production facility, which was detailed in an earlier update.