Energy Fuels says Australian Strategic Materials shareholders back takeover scheme

Consideration is 0.053 new Energy Fuels CHESS Depositary Interests and A$0.13 cash per ASM share; A$0.50 cash per ASM option.

A court hearing is scheduled for Aug. 18, with effectiveness expected Aug. 19; implementation is targeted for Aug. 28, 2026.

Energy Fuels aims to add ASM’s rare earth metals and alloys capability, including its Korean Metals Plant, to build an integrated supply chain.

Energy Fuels says its planned acquisition of Australian Strategic Materials cleared a key hurdle as ASM securityholders backed the deal at scheme meetings.

ASM shareholders voted 98.23% in favor by votes cast, meeting the required thresholds; optionholders supported the option proposal by 99.97%.