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Toro Energy Secures ASX Waiver to Cancel 4.4 Million Options; Shares Fall 4%

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Toro Energy (ASX:TOE) said the Australian Securities Exchange has granted it a waiver allowing the company to cancel 4.4 million unlisted options expiring on Jan. 11, 2027, in exchange for cash, without requiring shareholder approval, according to a Wednesday Australian bourse filing.

The waiver relates to a scheme of arrangement under which Iso Australia Operations, a subsidiary of IsoEnergy, would acquire all the company's ordinary shares not held by the IsoEnergy Group, the filing said.

The ASX waiver is conditional on the scheme booklet fully disclosing the cancellation terms and the scheme subsequently becoming effective, the filing added.

The company's shares fell 4% in recent Wednesday trade.

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