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ASM share price suspended as EFR Critical Minerals completes takeover

ASX: ASM shares will be suspended as EFR Critical Minerals completes the acquisition. Here's the latest for investors.

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Laura Stewart
Author bio Laura Stewart is a Finance Editor at The Motley Fool, where she covers Australian and international equity markets. She joined the company in 2022, following a career transition from legal advisory work in Southeast Asia into the investment industry. Prior to her current editorial role, Laura spent three years as an Equity Analyst and Writer, producing investment research across the ASX, NYSE, and NASDAQ. Her coverage included small-cap growth companies, thematic investment ideas, and high-quality U.S.-listed businesses. Laura holds a Master of Applied Finance and brings additional expertise in accounting, taxation, and estate and wealth planning from her postgraduate studies. She also has a background in law and communications, which supports her analytical and reporting work in financial markets. Outside of work, she enjoys spending time in the Adelaide Hills with her flock of sheep. Education Laura holds a Bachelor of Laws, a Bachelor of Communication (Journalism), and a Bachelor of Commerce with majors in Accounting and Corporate Finance. In 2025, she completed a Master of Applied Finance at the University of Adelaide, receiving postgraduate awards in Accounting Concepts & Methods, Ethical Principles in Accounting & Finance, Real Estate Valuation & Investment, and Tax, Estate & Wealth Planning. Social media LinkedIn FYI – I am taking a break from social media at the moment, so this account isn’t active at the moment, but I will let you know when I rejoin. Favorite investment quote "Compound interest is the eighth wonder of the world. He who understands it, earns it... he who doesn't... pays it." — Albert Einstein
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The Australian Strategic Materials Ltd (ASX: ASM) share price will be suspended from quotation after today's close, following news that all ASM shares will be acquired by EFR Critical Minerals Pty Ltd, a wholly owned subsidiary of Energy Fuels Inc (NYSE: UUUU) This move comes after the Federal Court approved the scheme of arrangement.

A man analyses stockmarket graph on his computer.

Image source: Getty Images

What did Australian Strategic Materials report?

  • ASM shares will be suspended from quotation as of the close of trading on 19 August 2026
  • The Federal Court of Australia approved the scheme by which EFR Critical Minerals will acquire ASM
  • Energy Fuels Inc. becomes the new indirect owner of ASM
  • All outstanding ASM securities will transfer under the scheme

What else do investors need to know?

Trading in ASM's securities will halt at the close today. This follows the official lodgement of the Court's orders with ASIC. The suspension wraps up a process that began when ASM and EFR Critical Minerals proposed the acquisition deal to shareholders.

ASM shareholders will receive consideration according to the scheme's terms as Energy Fuels Inc. takes ownership. The delisting of ASM means that existing shareholders will soon see their holdings converted as specified by the scheme documentation.

What's next for Australian Strategic Materials?

With the scheme now approved and ASM securities suspended, EFR Critical Minerals will complete the acquisition process. Energy Fuels Inc. is expected to integrate ASM's critical minerals operations into its global business.

Shareholders can expect final communication regarding payment and transfer details soon. The company is poised for a fresh chapter under new ownership with a focus on continued resource development.

Australian Strategic Materials share price snapshot

Over the past 12 months, ASM shares have risen 109%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

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