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Matrix Composites Says Court Approves Proposed Acquisition by Advanced Innergy Unit, Advanced Innergy Shares Fall 6%

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Matrix Composites & Engineering (ASX:MCE) said the Federal Court of Australia (Western Australia registry) made orders approving the proposed acquisition of the firm by Advanced Innergy Solutions Australia, a wholly-owned unit of Advanced Innergy Holdings (ASX:AIH), via a members' scheme of arrangement, according to a Monday Australian bourse filing.

Matrix plans to lodge an office copy of the court's orders with the Australian Securities and Investments Commission on Tuesday, upon which the scheme will become legally effective.

Its shares are expected to be suspended from trading on ASX with effect from the close of trading on the same date.

Shares of Advanced Innergy fell 6% in recent trading on Monday.

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