Vonex Limited and Maxo Telecommunications Scheme Update
Vonex Limited (ASX: VN8) has confirmed that the Australian Securities and Investments Commission has registered and despatched the Scheme Booklet for a Court-approved scheme of arrangement with Maxo Telecommunications.
Details of the Arrangement
Under the arrangement, MaxoTel will acquire the remaining issued share capital in Vonex that it does not currently own. The transaction proceeds on the terms set out in the scheme documentation.
Independent Expert's Conclusion
The Independent Expert retained for the transaction has concluded the proposal is fair and reasonable and is in the best interests of Vonex shareholders, on the condition that no superior proposal emerges.
Shareholder Endorsement and Meeting
Vonex’s board has unanimously endorsed the scheme and recommends shareholders vote in favour. A meeting of Vonex shareholders is scheduled for 23 September 2025 to consider and vote on the proposal.
Company Operations and Market Snapshot
Vonex operates in the telecommunications sector, offering communication solutions and services to residential and business c...