Australian Strategic Materials (ASM) Securityholders have voted overwhelmingly in favour of the Schemes of Arrangement under which Energy Fuels will acquire 100% of ASM.
Energy Fuels (NYSE American: UUUU, TSX: EFR) is a leading US producer of uranium, rare earth elements, and other critical minerals.
At the Scheme Meetings held in Perth on 12 August 2026, Shareholders and Optionholders approved their respective resolutions by the majorities required under the Corporations Act 2001 (Cth):
- Share Scheme: 98.23% of votes cast were in favour, by 83.62% of Shareholders voting (in person or by proxy); and
- Option Scheme: 99.97% of votes cast were in favour, by 87.78% of Optionholders voting (in person or by proxy),
exceeding the required thresholds.
“We are pleased Securityholders have recognised the value and strategic rationale of this transaction. Bringing together ASM’s metals and alloys capability with Energy Fuels’ rare earth oxide production creates a differentiated mine to metal platform and places our people, technology and assets within a larger, better-capitalised group.
Rowena Smith, Managing Director & CEO
Next Steps
Implementation of the Schemes remains subject to approval by the Federal Court of Australia and the satisfaction or waiver of the remaining conditions. The indicative timetable is:
- Second Court Hearing for approval of the Schemes: 18 August 2026
- Last day of trading in ASM securities on the ASX: close of trading on 19 August 2026
- Implementation Date, on which the consideration is provided to ASM shareholders: 28 August 2026