Genex Power Shareholders Approve J-POWER Acquisition

Genex Power Ltd. (AU:GNX) has released an update.

Shareholders of Genex Power Limited have greenlit the acquisition by J-POWER Nominee, a subsidiary of Electric Power Development Co., Ltd., with over 76% of voting members in favor and nearly 95% of votes cast supporting the arrangement. The acquisition’s completion is contingent on the forthcoming approval by the Supreme Court of New South Wales, with a key hearing scheduled for 19 July 2024. If sanctioned, the deal will see shareholders receive A$0.275 cash per share, with the anticipated implementation date set for 31 July 2024.

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