99.8% of Matrix Votes Support Acquisition Scheme by Advanced Innergy

Shareholders Deliver Near-Unanimous Approval

Matrix Composites & Engineering Ltd (ASX:MCE) has secured overwhelming shareholder backing for its proposed acquisition by Advanced Innergy Solutions Australia Pty Ltd, a subsidiary of Advanced Innergy Holdings Limited (ASX:AIH). At the scheme meeting held on 6 July 2026, 99.8% of votes cast were in favour of the resolution, with 93.9% of shareholders present and voting endorsing the deal. This decisive outcome signals strong investor support for the takeover, which aims to transfer 100% ownership of Matrix to Advanced Innergy.

Next Legal and Regulatory Steps

The acquisition now moves to the Federal Court of Australia’s Western Australia registry, where a second court hearing is scheduled for 13 July 2026. Court approval is the final legal hurdle before the scheme can be implemented. If the court grants approval, Matrix plans to lodge the court orders with ASIC on 14 July, the date on which the scheme will become effective. Consequently, Matrix shares will be suspended from trading on the ASX at the close of trading that day.

Timeline to Completion and Delisting

Following the effective date, the scheme’s implementation is expected on 23 July 2026, subject to satisfying all remaining conditions precedent. Matrix shares are anticipated to be delisted from the ASX on 24 July 2026, marking the end of Matrix as a publicly traded entity. This timetable aligns with the indicative dates previously outlined by the company and fits within the broader acquisition process.

Strategic Implications for Matrix

Matrix is a specialist in composite and advanced material technologies serving sectors such as oil and gas, infrastructure, resources, defence, and transportation. The acquisition by Advanced Innergy, which has positioned itself as a growing player in industrial goods, could reshape Matrix’s strategic trajectory. While this announcement focuses on shareholder approval and procedural milestones, the acquisition’s impact on Matrix’s operational and financial outlook will become clearer post-completion.

What Investors Should Watch

The key upcoming event is the Federal Court’s decision on 13 July. Any delays or conditions imposed by the court could affect the timeline. Investors should also monitor the official announcement of the scheme’s effectiveness and the subsequent suspension and delisting of Matrix shares. The integration plans and potential changes under Advanced Innergy’s ownership will be critical to assessing the long-term value of this transaction.