Court Grants Approval for Donaco International's Acquisition Strategy; Stock Trading Temporarily Halts
In a significant development, Donaco International Limited has been acquired by On Nut Road Limited following a detailed timeline and process. The acquisition, valued at approximately AU$55.6 million, was finalised on August 19, 2025.
The process began on August 1, 2025, when Donaco shareholders overwhelmingly approved the scheme of arrangement proposed by On Nut Road Limited. A staggering 98.11% of votes cast were in favour, representing 77.5% of eligible shareholders who participated either in person or by proxy.
On August 7, 2025, the Supreme Court of New South Wales granted approval for the scheme. Donaco then lodged a copy of the court's orders with the Australian Securities and Investments Commission (ASIC) on August 8, 2025, making the scheme legally effective. As a result, trading of Donaco shares on the Australian Securities Exchange (ASX) was suspended at the close of trading on August 8, 2025.
The Scheme Record Date was set for 5:00 pm (AEST) on Tuesday, August 12, 2025. Shareholders registered as holding Donaco shares at this time were entitled to receive the scheme consideration of A$0.045 in cash for each share held as of the Scheme Record Date. The scheme consideration payment and full implementation of the deal were expected to occur on August 19, 2025, as planned.
Shareholders with questions about the scheme can contact the Donaco Shareholder Information Line at +61 8 6430 1300 or email [email protected]. All dates in the timetable are indicative and subject to change. Any changes will be announced on ASX and posted on Donaco's website.
The proposed scheme of arrangement will result in On Nut Road Limited acquiring 100% of the shares in Donaco that it does not already own. The board has authorized the release of this information.
For more details, please refer to the ASX announcement available through the provided link.
The acquisition of Donaco International Limited by On Nut Road Limited, worth approximately AU$55.6 million, was a strategic move in the finance and business sector, given that On Nut Road Limited will acquire 100% of the shares in Donaco, following the scheme of arrangement. The acquisition process, which began on August 1, 2025, will see Donaco's casino operations become part of On Nut Road Limited's portfolio.
