In the matter of Bionomics Ltd (No 2) [2024] NSWSC 1666

The scheme of arrangement is fair and reasonable for Bionomics shareholders, all statutory and procedural requirements have been complied with, no opposition was received, and full disclosure was made. Accordingly, approval of the scheme and related exemption orders is appropriate.

Parties: Plaintiff: Bionomics Limited
Jurisdiction: Australia
Judgment Date: 20 December 2024
Procedural Posture: Scheme of Arrangement Approval / Final Court Approval Hearing
Outcome: Scheme of arrangement approved; exemption orders granted.
Legal Topics: Schemes of Arrangement, Members' Schemes, Statutory Compliance, Court Approval Process, Shareholder Rights

Corporations Law Equity Schemes of Arrangement Members' Schemes Statutory Compliance Court Approval Process Shareholder Rights

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Parties

Bionomics Limited

Plaintiff

Procedural Posture

Scheme of Arrangement Approval / Final Court Approval Hearing

Legal Issues

1 Whether the scheme of arrangement under s 411 of the Corporations Act 2001 (Cth) should be approved
2 Whether all statutory and procedural requirements have been met
3 Whether scheme is fair and reasonable to shareholders

Ratio Decidendi

Court Disposition

Scheme of arrangement approved; exemption orders granted.

Orders

Approval of the scheme of arrangement between Bionomics Limited and its shareholders under s 411 Corporations Act 2001 (Cth)
Exemption pursuant to s 411(12) of the Corporations Act from compliance with s 411(11) granted so no need to annex Court order to each copy of constitution