SelfWealth (ASX:SWF) said its shareholders approved the acquisition of the firm by Svava via a scheme of arrangement, according to a Tuesday Australian bourse filing.

The company said 99.7% of the votes cast by its shareholders at the general scheme meeting were in favor of the acquisition via a court-approved scheme of arrangement.

SelfWealth said it will now seek approval of the scheme from the Federal Court of Australia on April 28.

If approved, SelfWealth will lodge the court orders with the Australian Securities and Investments Commission on April 29.

The company's shares are expected to be suspended from trading at market close on the same day.

Svava is the holding company of the Syfe Group.