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7 stories mentioning ASX:MCEUpdated 10d ago

Every FINWIRES story that references ASX:MCE, newest first.

Asia

Advanced Innergy Holdings Unit Completes Matrix Composites & Engineering Acquisition; Shares Fall 6%

Advanced Innergy Holdings (ASX:AIH) unit Advanced Innergy Solutions Australia completed its acquisition of Matrix Composites & Engineering (ASX:MCE) on Thursday, according to a same-day filing with the Australian bourse.The companies plan to leverage their complementary materials science capabilities and manufacturing networks to drive growth across deep-water oil and gas developments and emerging offshore markets, per the filing.Advanced Innergy Holdings CEO Andrew Bennion said the acquisition will support the company's long-term earnings profile through operational efficiencies and access to larger project opportunities.Its shares fell 6% in recent Thursday trade.

ASX:AIHASX:MCE
Asia

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

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.

ASX:AIHASX:MCE
Asia

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

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.

ASX:AIHASX:MCE
Asia

Matrix Composites Shareholders Approve Acquisition by Advanced Innergy Holdings

Matrix Composites & Engineering (ASX:MCE) said the requisite majorities of its shareholders voted in favor of the proposed acquisition of its issued share capital by Advanced Innergy Solutions Australia, a wholly owned subsidiary of Advanced Innergy Holdings (ASX:AIH), via a scheme of arrangement, according to a Monday Australian bourse filing.Around 99.8% of the total number of votes cast by the shareholders were in favor of the scheme resolution.Matrix will now seek approval of the scheme by the Federal Court of Australia (Western Australia registry) at the second court hearing on July 13.

ASX:AIHASX:MCE
Asia

Matrix Composites & Engineering Calls Shareholder Meeting to Vote on Advanced Innergy Deal

Matrix Composites & Engineering (ASX:MCE) said Australia's Federal Court ordered the company to convene a shareholder meeting to vote on Advanced Innergy Holdings' (ASX:AIH) proposed acquisition of Matrix, according to a Wednesday filing with the Australian bourse.The court also approved Matrix distributing an explanatory statement with details on the scheme of arrangement. The booklet will be released on June 4.Matrix has scheduled the shareholders' meeting for July 6. The company's board continues to unanimously recommend that shareholders approve the deal.

ASX:AIHASX:MCE
Asia

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

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

ASX:AIHASX:MCE
Asia

Advanced Innergy to Acquire Matrix Composites in AU$0.40 Cash-Per-Share Offer

Matrix Composites & Engineering (ASX:MCE) entered into a scheme implementation deed with Advanced Innergy Holdings (ASX:AIH) under which Advanced Innergy agreed to acquire 100% of Matrix via a scheme of arrangement, under which Matrix shareholders will receive AU$0.40 cash per share, according to separate Monday filings with the Australian bourse.Advanced Innergy declared the offer price as its best and final in the absence of a superior competing proposal.Advanced Innergy, via a wholly-owned unit, previously entered into call option deeds over Matrix shares representing, in aggregate, 19.9% of Matrix shares on issue. The scheme is expected to be implemented by the end of July, subject to all the conditions being satisfied or waived, including Matrix shareholder approval, court approval, and approval from the Foreign Investment Review Board.The board of Matrix unanimously recommended that the company's shareholders vote in favor of the scheme in the absence of a superior proposal and subject to an independent expert concluding that the deal is is in the best interests of the shareholders.

ASX:AIHASX:MCE

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