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Amcom shareholders give Vocus merger the go-ahead

Amcom shareholders give Vocus merger the go-ahead

The landmark shareholder vote sees 77 per cent voting for the merger while 22.8 per cent vote against

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Amcom Telecommunications shareholders have voted in favour of the scheme of arrangement, giving the Vocus merger the green light.

Total shares voted at the meeting in Perth on June 15 were 234.7 million with 77 per cent voting for the merger, while 22.8 per cent voted against.

According to a statement from Amcom, the scheme received unanimous support from the balance of the share register (excluding interests held by TPG), with 99.8 per cent of non-TPG votes cast in favour of the Scheme.

Other than TPG, only 300,000 voted against the resolution.

A hearing will be held in Federal Court of Australia on June 23 to approve the Scheme.

“This shareholder vote is something of a landmark given TPG held 19.99 per cent of Amcom and voted against the Scheme,” Amcom chairman, Tony Grist, said.

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Tags TPG GroupAmcom TelecommunicationsVocus Communications

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