The Court approved the scheme of arrangement for Rubik Australia Pty Limited's acquisition of 100% of Qube Holdings Limited shares, finding the requisite statutory majorities were achieved (98.11% by value, 86.72% by headcount at the General Scheme Meeting), the scheme was fair and reasonable, and all conditions precedent were satisfied. A transposition error in the updated notice of the second court hearing (swapping the headcount and value percentages) was held to be immaterial where the accompanying detailed report disclosed the true position. A three-week adjournment between the scheme meetings and the second court hearing to allow time for regulatory approvals did not render the scheme resolutions stale.
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