Renergen shareholders have approved the proposed acquisition by Nasdaq-listed ASP Isotopes after a vote held on July 10.
With key conditions met or waived, ASPI is now positioned to acquire all outstanding Renergen shares through a formal arrangement, Renergen said in a statement on Friday, with completion expected by September 30, subject to remaining conditions.
The approval removes the need for an alternative “standby offer”, simplifying the acquisition process. ASPI has also proposed a cash settlement of R0.08 per unit for holders of Renergen’s share appreciation rights.
The acquisition will combine Renergen’s energy assets with ASPI’s isotope technologies.
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