Aston Minerals Limited Suspended from Quotation: Supreme Court Approves Torque Metals' Full Acquisition Scheme

Thursday, May 29, 2025
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7:00 pm
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Aston Minerals Limited will have its securities suspended from trading on May 29 following the Supreme Court's approval of a scheme under which Torque Metals Limited acquires all issued shares. This marks a notable restructuring move that could reshape its market strategy.

Aston Minerals Limited announced on 29 May 2025 that its securities will be suspended from trading at the close of business that day. This move comes as a result of the recent lodgement of orders from the Supreme Court of Western Australia with the Australian Securities and Investments Commission, approving a scheme of arrangement. Under the approved scheme, Torque Metals Limited is set to acquire all issued shares in Aston Minerals Limited, triggering the suspension under Listing Rule 17.2. The decision, announced by ASX Compliance, effectively marks a transitional phase for Aston Minerals Limited as its trading activity is temporarily halted pending the completion of the acquisition process. Key technical details include the trigger of Listing Rule 17.2 and the formal court orders supporting the scheme of arrangement, which are critical for investors to note as they evaluate the company's near-term trading dynamics. Sentiment among market watchers might lean both ways. On the bullish side, the acquisition by Torque Metals Limited could signal renewed growth prospects and potential operational synergies that might enhance future value. The backing of a court-approved scheme emphasizes a structured and legally sound path forward. Conversely, the bearish outlook stems from the immediate suspension of trading, which could limit liquidity and create short-term uncertainty for investors accustomed to regular market access. As such, novice traders should carefully monitor further developments, as the resolution of the acquisition will likely dictate the future market performance of Aston Minerals Limited.

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