CCI Holdings Limited ABN 51 000 680 740 [2007] FCA 832

CCI Holdings Limited ABN 51 000 680 740 [2007] FCA 832

The Court is satisfied that the proposed scheme is one that reasonable and properly informed shareholders might agree to, and orders for the convening of meetings of relevant shareholder classes are appropriate and justified under s 411(1) of the Corporations Act 2001 (Cth).

Jurisdiction
Australia
Judgment Date
15 May 2007
Procedural Posture
Corporations Scheme of Arrangement / Application for Orders to Convene Scheme Meetings
Outcome
Orders made for convening scheme meetings and related procedural orders granted.
Legal Topics
['scheme of Arrangement' 'shareholder Meetings' 'break Fee' 'takeovers' 'premium for Control']
['corporate Law' 'mergers and Acquisitions'] ['scheme of Arrangement' 'shareholder Meetings' 'break Fee' 'takeovers' 'premium for Control']

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Procedural Posture

Corporations Scheme of Arrangement / Application for Orders to Convene Scheme Meetings

Legal Issues

  1. 1 ['Whether meetings of shareholders should be convened to consider proposed scheme of arrangement under s 411 of the Corporations Act 2001 (Cth)' 'Whether ALS constitutes a separate class for scheme meeting purposes' 'Lawfulness and effect of break fee provisions in the Merger Implementation Agreement']

Ratio Decidendi

The Court is satisfied that the proposed scheme is one that reasonable and properly informed shareholders might agree to, and orders for the convening of meetings of relevant shareholder classes are appropriate and justified under s 411(1) of the Corporations Act 2001 (Cth).

Court Disposition

Orders made for convening scheme meetings and related procedural orders granted.

Orders

  • ['Plaintiff to convene separate meetings of shareholders to consider the scheme of arrangement as detailed in Order 1.' 'Scheme meetings to be held at Deacons, Level 8, Gold Fields House, Circular Quay, Sydney, NSW on 18 June 2007 at 9:30 am and 10:00 am respectively.' 'Chairman (Peter Edward John Murray, or failing...