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.
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.
