A scheme booklet for Brightstar Resources' (ASX:BTR) proposed scheme of arrangement acquisition of Alto Metals' (ASX:AME) was lodged with Australia's Securities and Investments Commission (ASIC) on Monday, according to a same-day filing with the Australian bourse.
An independent expert found the scheme is "not fair but reasonable" and, therefore, in the best interests of Alto shareholders in the absence of a superior proposal, the filing said.
Alto Metals directors believe the scheme is in the best interest of shareholders and plan to vote their relevant interests in favor of the scheme, according to the filing.
A scheme meeting is set for Nov. 19, the filing stated.
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