Auswide Bank Shareholders to Vote on Acquisition Proposal by MyState Bank

MT Newswires Live

Jan 24, 2025

Auswide Bank Ltd (ASX:ABA) said that its shareholders will vote on a proposed acquisition by MyState Bank, a unit of MyState (ASX:MYS), at a meeting on Feb. 3, according to a Friday filing with the Australian bourse.

The acquisition would see MyState Bank acquire 100% of Auswide Bank's fully paid ordinary shares through a scheme of arrangement, the filing said.

If shareholders approve the scheme, the proposal will proceed to the second court hearing in the Supreme Court of New South Wales on Feb. 7 for final approval, the filing added.

Shareholders may oppose the approval of the scheme at the hearing by filing a notice of appearance and affidavit with Auswide's legal representatives, at least one day before the hearing.

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