Re Signature Gold Ltd

Signature Gold Ltd applied to the Federal Court for orders to convene a meeting of its members to consider a proposed scheme of arrangement under which StratMin Global Resources PLC would acquire all of the issued shares in Signature. The Court was required to consider whether it should grant the orders sought by Signature. The Court found that it should grant the orders sought. The Court was satisfied that the requirements of the Corporations Act 2001 (Cth) were met, and that the orders were in the best interests of the members of Signature. The Court made orders pursuant to ss 411(1) and 1319 of the Corporations Act, directing Signature to convene a meeting of its members to consider the proposed scheme of arrangement. The Court also made orders pursuant to r 2.15 of the Federal Court (Corporations) Rules 2000, exempting the meeting from certain provisions of the Corporations Regulations 2001 (Cth). The Court further made orders for the electronic despatch of the notice of scheme meeting and the scheme booklet to those Signature shareholders who have nominated an electronic address for the purpose of receiving notices of meeting and proxy forms, and an order dispensing with the requirements of r 3.4 of the Federal Court (Corporations) Rules 2000. The Court stood over the proceeding to 12 December 2017 for the hearing of any application to approve the Scheme. The Court granted liberty to apply.