On 13 September 2021, MLT shareholders voted in favour of the merger with Washington H. Soul Pattinson and Company Limited (ASX: SOL). The merger remains subject to court approval with a court hearing scheduled for 20 September 2021.
Subject to all the requisite approvals being received, MLT will apply for its shares to cease trading on the ASX on 21 September 2021 with the scheme is expected to be implemented on 5 October 2021 (Implementation Date).
On the Implementation Date, all MLT shareholders will receive their Scheme consideration, being the new SOL shares as per the exchange ratio, and the Special Dividend which is expected to be 37 cents per MLT share. The Special Dividend has a Record Date of 22 September 2021.