Kidman Resources shareholders vote in favour of scheme of arrangement

SINGAPORE: Wesfarmers Limited notes that Kidman Resources’ shareholders today voted in favour of the Scheme of Arrangement under which Wesfarmers will acquire 100 percent of the issued ordinary shares in Kidman for $1.90 cash per share.

Wesfarmers Managing Director Rob Scott thanked the Board of Kidman and the company’s shareholders for their strong support for the Scheme. “This approval by Kidman shareholders is one of the most important milestones in our proposed acquisition of Kidman and subsequent participation in the development of the Mt Holland Lithium Project,” Scott said.

“Subject to final Court approval, completion of the transaction is expected to take place later this month.”