Cooper Grace Ward recently acted as legal adviser for ASX listed client Facilitate Digital Holdings Limited (Facilitate) in its scrip acquisition by ASX listed Adslot Limited (ASX:ADJ) by way of members’ scheme of arrangement.
Under the scheme of arrangement, Adslot acquired 100 per cent of the issued shares in Facilitate in exchange for new shares in Adslot.
Prior to the acquisition, Facilitate was a leading global provider of digital marketing technology and services to the digital media sector. Adslot is a global provider of online display media trading technology. The combined group will be a leading digital media technology services company that brings together a single media trading platform to service both publishers and media buyers.
The scheme was announced to the market on 12 September 2013 and was implemented on 23 December 2013. Court approval was obtained via application to the Supreme Court of Queensland and orders made by His Honour Justice McMurdo on 30 October 2013 and 9 December 2013.