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Midway Ltd ( (AU:MWY) ) just unveiled an update.
Midway Limited has announced that its shareholders have approved the acquisition of all its issued capital by RCM BidCo Pty Ltd through a scheme of arrangement. The scheme still requires approval from the Federal Court of Australia, with the final steps expected to be completed by mid-February 2025. Additionally, a special dividend of $0.3835 per share will be paid to shareholders, contingent upon the scheme’s effectiveness. This development marks a significant turning point for Midway, potentially impacting its operations and market positioning as it transitions ownership.
More about Midway Ltd
Founded in 1980, Midway Limited is one of Australia’s largest woodfibre processors and exporters. The company has a strong focus on plantation and carbon management, offering solutions for recyclable paper and packaging, plastic replacement products, and coal replacement energy generation in Asia. Midway operates woodchip processing and exporting facilities at key Australian ports, including Bell Bay, Tasmania; Portland and Geelong, Victoria; Brisbane, Queensland; and Melville Island in the Northern Territory’s Tiwi Islands.
YTD Price Performance: 0.69%
Average Trading Volume: 5,229
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €64.5M
See more insights into MWY stock on TipRanks’ Stock Analysis page.
