Following the court’s nod for scheme of arrangement between the two companies, Endocoal is set to apply for approval with Australian Securities and Investment Commission on 22 April 2013.
With this application, the scheme will become legal, while, Endocoal’s shares are expected to be suspended from trading at close of trade on 22 April.
It forwarded the takeover to Endocoal earlier in October 2012.
U&D is a joint venture between China Yima Coal Group-owned subsidiary’s Australia Kunqian International Energy and Daton Group Australia, formed as an investment unit for country’s coal industry.
