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Matrix Composites Says Advanced Innergy Receives Nod From Australian Government For Proposed Acquisitions

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Matrix Composites & Engineering (ASX:MCE) said Advanced Innergy Holdings (ASX:AIH) received written notice on behalf of the Australian Federal Treasurer stating that the Australian government does not object to the proposed acquisitions by Advanced Innergy and its wholly-owned unit, Advanced Innergy Solutions Australia, of up to 100% interests in Matrix, according to a Tuesday Australian bourse filing.

The board of Matrix continues to unanimously recommend that Matrix shareholders vote in favor of the proposed acquisitions, in the absence of a superior proposal, and subject to an independent expert

concluding that the proposal is in the best interests of the shareholders.

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