Sigma Healthcare (ASX:SIG) has announced the successful outcome of the scheme meeting concerning its merger with CW Group Holdings, the parent company of Chemist Warehouse.
The merger, planned through a scheme of arrangement, will result in Sigma acquiring 100% of Chemist Warehouse’s issued shares.
In a decisive vote, 100% of Chemist Warehouse shareholders present and casting votes supported the Scheme Resolution, aligning unanimously with the merger proposition.
The outcome signifies a robust shareholder endorsement for the planned merger.
The merger remains contingent upon approval from the Federal Court of Australia, with a hearing set for Feb. 3.
Upon meeting all prerequisites, the merger is expected to proceed, with Chemist Warehouse lodging the court's order with ASIC on Feb. 4.
Finalisation of the merger is anticipated by Feb. 12, at which time Chemist Warehouse shareholders will receive the agreed scheme consideration.
Subsequently, Sigma shares issued under the scheme will commence trading on Feb. 13.
"The unanimous support from Chemist Warehouse shareholders marks a significant milestone," stated Gary Woodford, Head of Corporate Affairs, Sigma Healthcare.