The Qube Holdings Ltd (ASX: QUB) share price is in focus today after the company announced it has received an ASX waiver enabling a flexible timetable for its proposed scheme of arrangement. The move could allow shareholders to benefit from a fully franked special dividend, if one is declared.
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What did Qube report?
- Received an ASX waiver of Listing Rule 7.40 to permit a customised scheme implementation timetable.
- Potential for a fully franked special dividend to be paid following scheme effectiveness.
- Bidder Rubik Australia Pty Limited is set to acquire 100% of Qube shares via the scheme of arrangement.
- Qube Board intends to send scheme documentation after the upcoming court hearing on 23 April 2026.
- Board unanimously recommends the scheme, in the absence of a superior proposal and with positive independent expert advice.
What else do investors need to know?
The ASX waiver allows Qube to deviate from the standard scheme timetable, as outlined in the Scheme Implementation Deed with Rubik Australia. This flexibility supports drawing down funds and potentially paying a special fully franked dividend to eligible shareholders.
Notices of meeting and the scheme booklet are expected after the first court hearing on 23 April 2026, with the scheme meetings likely scheduled for June 2026. The Qube Board reiterates its support for the bid, provided it remains in shareholders' best interests.
What's next for Qube?
Qube Holdings plans to issue meeting documents following the first court hearing, and shareholders will have their say on the proposal in June 2026. If all conditions are met, including court and shareholder approval, the special dividend and scheme implementation could follow soon after.
The Board continues to focus on delivering value for shareholders throughout this process and will provide further updates as milestones are reached.
Qube share price snapshot
Over the past 12 months, Qube shares have risen 32%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 14% over the same period.
