Mainstream Group Holdings Limited, in the matter of Mainstream Group Holdings Limited (Scheme Meeting Orders) [2021] FCA 1163

Mainstream Group Holdings Limited, in the matter of Mainstream Group Holdings Limited (Scheme Meeting Orders) [2021] FCA 1163

The Court was satisfied that it had power under ss 411 and 1319 of the Corporations Act 2001 (Cth) to make the requested adjustments to the convening orders and that the orders should be made.

Jurisdiction
Australia
Judgment Date
24 September 2021
Procedural Posture
Members' Scheme of Arrangement / Interlocutory Application for Orders Affecting Scheme Meeting
Outcome
Orders made on 24 September 2021.
Legal Topics
["members' Scheme of Arrangement" 'scheme Meeting Orders' 'direct Voting' 'proxy Forms' 'virtual Scheme Meeting' 'shareholder Questions']
['corporations' 'commercial and Corporations'] ["members' Scheme of Arrangement" 'scheme Meeting Orders' 'direct Voting' 'proxy Forms' 'virtual Scheme Meeting' 'shareholder Questions']

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Procedural Posture

Members' Scheme of Arrangement / Interlocutory Application for Orders Affecting Scheme Meeting

Legal Issues

  1. 1 ['Whether shareholders who lodge direct votes before the scheme meeting should be counted as present at the meeting for the purposes of s 411(4)(a)(ii)(A) of the Corporations Act 2001 (Cth).' 'Whether the Plaintiff should be relieved of the obligation to personalise proxy forms distributed by email.' 'Whether the manner in which shareholders may ask questions at the virtual scheme meeting should be adjusted.' 'Whether the date for publication of a newspaper advertisement should be changed from 16 September 2021 to 8 October 2021.']

Ratio Decidendi

The Court was satisfied that it had power under ss 411 and 1319 of the Corporations Act 2001 (Cth) to make the requested adjustments to the convening orders and that the orders should be made.

Court Disposition

Orders made on 24 September 2021.

Orders

  • ['Pursuant to sections 411(4)(a)(ii)(A) and 1319 of the Corporations Act 2001 (Cth) (Act), Scheme Shareholders lodging direct votes prior to the Scheme Meeting scheduled to be held at 10:30 am (AEST) on 6 October 2021 pursuant to Order 1 of the orders made on 4 August 2021 (Convening Orders) are to be counted as...