Winsome Resources shareholders and optionholders overwhelmingly backed Li-FT Power’s takeover scheme, clearing a major hurdle before the Supreme Court’s final approval scheduled for 11 May 2026.
- Share Scheme resolution passed with 97% shareholder support
- Option Scheme resolution approved unanimously by optionholders
- Supreme Court hearing set for 11 May to approve acquisition
- Winsome shares expected to suspend trading on 12 May
- Delisting from ASX and Li-FT trading commencement in late May
Shareholders and Optionholders Signal Strong Support
Winsome Resources Limited (ASX:WR1) has secured overwhelming backing from its shareholders and optionholders for the proposed acquisition by Li-FT Power Ltd (TSXV: LIFT). At meetings held on 5 May 2026, the Share Scheme Resolution garnered nearly 97% approval from shareholders voting in person or by proxy, while the Option Scheme Resolution was passed unanimously by optionholders. This decisive endorsement marks a critical milestone in the takeover process, positioning the transaction for imminent court approval.
The strong vote follows extensive engagement with securityholders, who were provided with detailed Scheme Booklet information earlier this year. The near-unanimous support from optionholders and the robust shareholder vote reflect confidence in the terms of the scheme and the strategic rationale behind Li-FT’s acquisition of 100% of Winsome’s shares and unlisted options. The transaction aims to consolidate lithium assets under a dual-listed entity, enhancing scale and market presence.
Supreme Court Approval and Conditional Steps Remain
The next decisive step is the Supreme Court of Western Australia’s hearing scheduled for 10:00am AWST on 11 May 2026. The court will consider whether to approve the Share Scheme and Option Scheme, which remain subject to certain conditions precedent including regulatory approvals and Li-FT’s conditional ASX listing. The court’s decision will be pivotal in determining whether the schemes become effective on 12 May 2026.
Should the court grant approval and all other conditions be satisfied or waived, Winsome shares will be suspended from trading on the ASX at the close of 12 May. The implementation of the schemes is then slated for 21 May, with Winsome’s delisting from the ASX and the commencement of Li-FT shares trading on the TSXV shortly thereafter. This timetable underscores the swift transition expected following court endorsement.
Implications for Market and Shareholders
For shareholders, the scheme offers an option to elect to receive new Li-FT shares or CHESS Depositary Interests (CDIs), with elections due by 5:00pm AWST on 12 May. Small shareholders may also opt to receive their consideration in the form of Li-FT CDIs or participate in a sale facility. These choices will shape the final ownership structure post-acquisition.
The acquisition aligns with broader consolidation trends in the lithium sector, where scale and access to capital markets are increasingly critical. Li-FT’s planned dual listing on the ASX and TSXV aims to leverage cross-border investor pools. The strong shareholder and optionholder endorsement at the recent meetings builds momentum toward this strategic outcome.
The court hearing and subsequent implementation will be closely watched by market participants given the potential impact on share liquidity and valuation. The transaction also follows a series of approvals and milestones, including Li-FT’s recent conditional ASX listing approval, as detailed in prior updates. Investors should monitor announcements around the court’s decision and the scheduled suspension and delisting dates.
Upcoming Milestones and Market Watchpoints
The key dates ahead include the court hearing on 11 May, the effective date of the schemes on 12 May, and the implementation date on 21 May. Li-FT CDIs are expected to commence trading on the ASX on 22 May, coinciding with Winsome’s delisting. Shareholders and optionholders must submit their election forms by 5:00pm AWST on 12 May to participate in their preferred consideration method.
These developments follow the company’s recent key court hearing scheduled and the earlier shareholder vote preparations that set the stage for this decisive approval. The coming week will be crucial in confirming the acquisition’s completion and shaping the future trajectory of the combined lithium exploration entity.
Bottom Line?
The Supreme Court’s decision on 11 May will be the final hurdle before Li-FT Power’s takeover of Winsome Resources becomes effective, triggering a swift transition in share ownership and market listing.
Questions in the middle?
- Will the Supreme Court approve the schemes without modification or delay?
- How will shareholder election choices influence Li-FT’s post-acquisition capital structure?
- What impact will the delisting and dual listing have on liquidity and investor access?