Centrebet International Limited, in the matter of Centrebet International Limited [2011] FCA 870

Centrebet International Limited, in the matter of Centrebet International Limited [2011] FCA 870

The Court was satisfied that the proposed schemes were appropriate for consideration by shareholders and performance right holders under s 411(1) of the Corporations Act; and made orders convening the necessary meetings because the arrangements were within the section's meaning, all statutory preconditions had been properly addressed, and reasonable and informed securityholders might find the proposal beneficial.

Jurisdiction
Australia
Judgment Date
13 July 2011
Procedural Posture
Corporations – Scheme of Arrangement / Application for Orders to Convene Meetings Under S 411(1) Corporations Act
Outcome
Orders made to convene meetings of shareholders and performance right holders to consider proposed schemes of arrangement under s 411(1) Corporations Act 2001 (Cth).
Legal Topics
['schemes of Arrangement' 'acquisition of Shares' 'securityholder Meetings' 'section 411 Corporations Act']
['corporations Law'] ['schemes of Arrangement' 'acquisition of Shares' 'securityholder Meetings' 'section 411 Corporations Act']

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Procedural Posture

Corporations – Scheme of Arrangement / Application for Orders to Convene Meetings Under S 411(1) Corporations Act

Legal Issues

  1. 1 ['Whether the Court should order the convening of meetings of shareholders and performance right holders under s 411(1) for consideration of proposed schemes of arrangement' 'Whether the proposed schemes are of such a nature and terms that, if agreed to, the Court would likely approve them']

Ratio Decidendi

The Court was satisfied that the proposed schemes were appropriate for consideration by shareholders and performance right holders under s 411(1) of the Corporations Act; and made orders convening the necessary meetings because the arrangements were within the section's meaning, all statutory preconditions had been properly addressed, and reasonable and informed securityholders might find the proposal beneficial.

Court Disposition

Orders made to convene meetings of shareholders and performance right holders to consider proposed schemes of arrangement under s 411(1) Corporations Act 2001 (Cth).

Orders

  • ['Centrebet to convene meetings of shareholders and performance right holders for consideration of schemes of arrangement substantially in the terms of the explanatory statement.' 'Share Scheme Meeting to be held at specified location and time.' 'Performance Right Scheme Meeting to be held at later time at specified...