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The latest update is out from Midway Ltd ( (AU:MWY) ).
Midway Limited has announced the indicative outcome of elections for Scrip Consideration under a scheme where RCM BidCo Pty Ltd will acquire all its issued shares. Only 0.36% of shares opted for Scrip Consideration, falling short of the Minimum Scrip Threshold of 5%. Consequently, unless the threshold is waived or reduced by BidCo, shareholders will receive all cash consideration. The final election outcome will be determined after the Scheme Record Date, with the company’s directors recommending shareholders approve the scheme in absence of a superior proposal.
More about Midway Ltd
Founded in 1980, Midway Limited is one of Australia’s largest woodfibre processors and exporters, with operations in five major port locations across Australia. The company is also expanding its plantation and carbon management business, focusing on generating carbon abatement and emissions offsets. Midway’s products serve the Asian market, being used in recyclable paper, packaging, and energy generation applications.
YTD Price Performance: -0.69%
Average Trading Volume: 5,229
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €64.05M
See more data about MWY stock on TipRanks’ Stock Analysis page.
