Auswide Banks Scheme of Arrangement Becomes Legall Effectivey

Auswide Bank Ltd (ASX: ABA) has announced that the scheme of arrangement under which MyState Bank Limited will acquire 100% of Auswide’s shares has become legally effective. As a result, trading in Auswide’s shares will be suspended from the close of trading on 10 February 2025. The scheme was approved by the Supreme Court of New South Wales and lodged with the Australian Securities and Investments Commission (ASIC).

Eligible Auswide shareholders will receive 1.112 new MyState shares for each Auswide share held as Scheme Consideration, with the exchange expected to take place on 19 February 2025. Ineligible foreign shareholders will receive proceeds under a sale facility.

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