Australian Strategic Materials (ASM) has postponed the Scheme Meetings scheduled for Monday 22 June 2026.
Following the release of a material update from Energy Fuels relating to a conditional US$725 million financing commitment received by Energy Fuels from the U.S. Office of Strategic Capital, ASM and Energy Fuels will be required to prepare and dispatch a supplementary Scheme Booklet to ASM Securityholders.
Consequently, the ASM Board has decided that the Scheme Meetings – previously scheduled for Monday, 22 June 2026 – will be postponed to a later date to be determined to allow time for the preparation of this additional material and its provision to ASM Securityholders.
Frequently Asked Questions
Why have the Scheme Meetings been postponed?
As announced by ASM on 19 June 2026, Energy Fuels published a press release in relation to a conditional US$725 million financing commitment received by Energy Fuels from the U.S. Office of Strategic Capital. ASM and Energy Fuels consider that ASM Securityholders require supplementary disclosure in relation to this announcement and its implications for ASM Securityholders and the Schemes.
As a result of the Energy Fuels announcement and the need to prepare supplementary disclosure for ASM Securityholders, Mr Gavin Smith, the proposed chairperson of the Scheme Meetings, in consultation with the ASM Board, has determined that the Scheme Meetings – previously scheduled for Monday, 22 June 2026 – will be postponed to a later date to be determined to allow time for the preparation of this additional material and its provision to ASM Securityholders.
When will I receive this supplementary disclosure?
ASM will inform ASM Securityholders of the expected date of dispatch of the supplementary disclosure materials in a subsequent announcement to ASX.
When will the Scheme Meetings now take place?
ASM will inform ASM Securityholders of the new dates and times for the Scheme Meetings, and the revised proxy deadline and voting eligibility dates, among other key dates, in a subsequent announcement and in the supplementary disclosure materials.
Will I need to cast my proxy vote again?
If you have already submitted a valid proxy appointment, your proxy appointment remains valid for the postponed Scheme Meetings. You only need to resubmit your proxy form if you wish to change your vote.
Does the postponement affect the consideration under the Schemes or the terms of the transaction?
No. The postponement of the Scheme Meetings does not affect the terms of the Share Scheme or the Option Scheme, including the consideration that you will receive if the relevant Scheme is approved and implemented.
Has the ASM Board changed its recommendation?
No. Your ASM Board continues to unanimously recommend that:
- ASM Shareholders vote in favour of the Share Scheme; and
- ASM Optionholders vote in favour of the Option Scheme.
in each case in the absence of a Superior Proposal and subject to the Independent Expert continuing to conclude that the Schemes are in the best interests of ASM Securityholders.
Subject to these same qualifications, each ASM Director intends to vote, or procure the voting of, all their Director ASM Shares and Director ASM Options in favour of the Scheme Resolutions.
Scheme Information Line
If you have any questions in relation to the Schemes or the Scheme Booklet, please contact the ASM Scheme information line on:
- 1300 644 587 (within Australia); and
- +61 2 9000 7018 (outside Australia)
between 8:00am and 5:00pm, Monday to Friday (AEST), excluding national public holidays.