APM acquires Konekt Limited via scheme of arrangement

APM acquires Konekt Limited via scheme of arrangement

9 December 2019

Federal Court Approves Scheme

Konekt Limited (ASX: KKT) (“Konekt”) is pleased to announce that the Federal Court of Australia (“Court”) has today made orders approving the proposed scheme of arrangement (“Scheme”) between Konekt and Konekt Shareholders pursuant to which Advanced Personnel Management International Pty Ltd (“APM”) will acquire all of the issued share capital of Konekt.

Konekt expects to lodge a copy of the Court orders approving the Scheme with the Australian Securities and Investments Commission on Tuesday, 10 December 2019 at which time the Scheme will become legally effective.

It is expected that trading in Konekt Shares on ASX will be suspended from close of trading on Tuesday, 10 December 2019.

The key dates for implementation of the Scheme are set out below:

(a) Wednesday, 11 December 2019: Special Dividend Record Date – record date for determining entitlement to the Special Dividend;

(b) Monday, 16 December 2019: Scheme Record Date – record date for determining entitlement to Scheme Consideration; and

(c) Friday, 20 December 2019: Implementation Date and Special Dividend Payment Date – payment of the Special Dividend and the Scheme Consideration.

Reena Minhas
Company Secretary
Konekt Limited

Press Release