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Matrix Composites Says Scheme for Acquisition by Advanced Innergy Becomes Legally Effective; Advanced Innergy Shares Reach All-Time Low

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Matrix Composites & Engineering (ASX:MCE) said the proposed acquisition of the firm by Advanced Innergy Solutions Australia, a wholly-owned unit of Advanced Innergy Holdings (ASX:AIH), via a scheme of arrangement became legally effective on Tuesday, according to a same-day Australian bourse filing.

It lodged a copy of the Federal Court's orders approving the scheme with the Australian Securities and Investments Commission.

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 7% in recent trading on Tuesday, reaching an all-time low.

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Sandfire Resources Possesses More Attractive Development Opportunities Besides Montana Project, Jefferies Says

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