The Court approved a scheme of arrangement under s 411(4)(b) of the Corporations Act for the acquisition of all ordinary and partly paid shares in Hartshead Resources NL by ACAM GP Limited, being satisfied that all statutory and procedural requirements were met and that the discretionary factors favoured approval. The Court accepted that relatively low voter turnout by number of shareholders (18.06%) did not preclude approval where turnout exceeded that at prior AGMs, and was satisfied that an associate of the acquirer had not voted shares held through nominee entities. An exemption from compliance with s 411(11) was granted under s 411(12) as the orders did not affect any change to the company's constitution.
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