RHG Limited, in the matter of RHG Limited [2013] FCA 1169

RHG Limited, in the matter of RHG Limited [2013] FCA 1169

All requirements for convening a meeting under s 411(1) are satisfied on the evidence and submissions, including appropriate notice, shareholder materials, and procedural safeguards; therefore, the orders to convene a scheme meeting and related relief are granted.

Parties
Plaintiff: RHG Limited
Jurisdiction
Australia
Judgment Date
07 November 2013
Procedural Posture
Corporations – Scheme of Arrangement / First Hearing – Application for Orders to Convene Scheme Meeting
Outcome
Orders for convening shareholder scheme meeting granted.
Legal Topics
Scheme of Arrangement, Acquisition of Shares, Approval Procedure Under S 411, Financial Assistance Resolution
Corporations Law Scheme of Arrangement Acquisition of Shares Approval Procedure Under S 411 Financial Assistance Resolution

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Parties

RHG Limited

Plaintiff

Procedural Posture

Corporations – Scheme of Arrangement / First Hearing – Application for Orders to Convene Scheme Meeting

Legal Issues

  1. 1 Should the Court order the convening of a meeting of shareholders to consider the scheme of arrangement under s 411 of the Corporations Act 2001 (Cth)?
  2. 2 Is the content of the scheme booklet and notice of meeting appropriate for distribution to shareholders?
  3. 3 Is relief from specific rules and regulations justified in the circumstances?

Ratio Decidendi

All requirements for convening a meeting under s 411(1) are satisfied on the evidence and submissions, including appropriate notice, shareholder materials, and procedural safeguards; therefore, the orders to convene a scheme meeting and related relief are granted.

Court Disposition

Orders for convening shareholder scheme meeting granted.

Orders

  • Plaintiff to convene a meeting of shareholders to consider and, if thought fit, agree to the scheme of arrangement in the proposed form.
  • Scheme meeting to be held 18 December 2013 at Wesley Conference Centre, Sydney.