The Federal Court has given the green light to Aura Consolidated Group’s takeover of Qoria Limited, setting the stage for a share suspension on ASX and the start of Aura CDIs trading next week.
- Federal Court approves scheme of arrangement
- Qoria shares to suspend trading on 8 July
- Aura CDIs begin conditional trading on 9 July
- Scheme implementation and capital raise settlement on 17 July
- Qoria shareholders to receive Aura CDIs as consideration
Court Approval Clears Legal Hurdle for Aura Takeover
Qoria Limited (ASX:QOR) has secured a crucial legal milestone with the Federal Court of Australia approving the scheme of arrangement that will see Aura Consolidated Group, Inc. acquire all Qoria shares. This court approval, announced on 7 July 2026, paves the way for the deal to become legally effective once the court orders are lodged with ASIC on 8 July.
Once effective, Qoria shares will be suspended from trading on the ASX, marking the end of Qoria as a standalone listed entity. This suspension is set to occur at the close of trading on 8 July, signalling a transition phase for shareholders and the market.
Transition to Aura CHESS Depositary Interests Trading
Following the suspension of Qoria shares, Aura CDIs will commence trading on a conditional and deferred settlement basis on 9 July. This trading phase precedes the formal implementation of the scheme, allowing the market to adjust to the new security ahead of the capital raise settlement.
The scheme consideration involves Qoria shareholders receiving shares in Aura’s common stock in the form of CHESS Depositary Interests. This share exchange aligns with the earlier set exchange ratio, where each Qoria share converts into a fraction of an Aura CDI, reflecting the agreed valuation underpinning the acquisition.
Key Dates Lead to Final Implementation and Capital Raise
The timetable outlines the final steps before the scheme’s full implementation. The record date for determining entitlements to the scheme consideration is 10 July, with the conversion of Aura preferred stock and the charter amendment scheduled immediately prior to the scheme’s implementation.
The critical implementation date is 17 July 2026, when the settlement of the capital raise and the allotment of Aura CDIs; including those issued as scheme consideration; will occur. Normal T+2 settlement trading of Aura CDIs is expected to commence on 20 July, followed by the dispatch of holding statements on 21 July.
Implications for Qoria Shareholders and Market Participants
For Qoria shareholders, the scheme’s effectiveness means they will soon transition from holding Qoria shares to owning a stake in the combined entity through Aura CDIs. This shift reflects the strategic merger that aims to combine complementary digital safety platforms and leverage a recent US$100 million capital raise to fuel growth and innovation.
The timing of share issuance is coordinated across Australian and US business hours, acknowledging the cross-border nature of the transaction. Shareholders should monitor the upcoming trading suspension and the commencement of Aura CDIs trading closely as these events will mark the practical steps of the merger’s execution.
Bottom Line?
With court approval secured, the spotlight now turns to the imminent trading suspension and the rollout of Aura CDIs as the merger moves into its final phase.
Questions in the middle?
- How will Qoria shareholders respond to the transition to Aura CDIs in terms of trading activity?
- What impact will the US$100 million capital raise have on Aura’s post-merger growth trajectory?
- Will the timing of cross-border share issuance pose any operational challenges during implementation?