AVJennings Suspended as Court Greenlights Acquisition Scheme
AVJennings Limited shares will halt trading following court approval of a takeover scheme by PM Nominees C Pty Ltd, marking a pivotal shift for the property developer.
- Trading suspension effective 24 July 2025
- Supreme Court of NSW approves acquisition scheme
- PM Nominees C Pty Ltd to acquire all issued shares
- Scheme lodged with ASIC under ASX Listing Rule 17.2
- Uncertainty remains on post-suspension share price and timeline
Trading Halt Signals Major Ownership Change
AVJennings Limited (ASX, AVJ), a notable player in the Australian property development sector, will see its shares suspended from trading at the close of the market on 24 July 2025. This move follows the Supreme Court of New South Wales granting approval for a scheme of arrangement that paves the way for PM Nominees C Pty Ltd to acquire all issued shares in the company.
Legal and Regulatory Milestones Achieved
The court’s endorsement, lodged with the Australian Securities and Investments Commission (ASIC), represents a critical regulatory milestone under ASX Listing Rule 17.2. This rule mandates suspension of securities when a scheme of arrangement is approved, effectively removing AVJennings shares from public trading as the acquisition process unfolds.
Implications for Shareholders and Market Participants
For shareholders, the suspension signals the imminent conclusion of AVJennings as a publicly traded entity, with PM Nominees C Pty Ltd set to assume full ownership. While the acquisition terms remain undisclosed, the court’s approval typically reflects a consensus on value and strategic intent. Market participants will be watching closely for further announcements detailing the scheme’s implementation timeline and any financial considerations for shareholders.
Strategic Context in Property Development
This acquisition could reshape AVJennings’ trajectory within the competitive property development landscape. PM Nominees C Pty Ltd’s motivations, whether consolidation, expansion, or repositioning, remain to be fully understood. The suspension and acquisition underscore the dynamic nature of the sector, where ownership structures can shift rapidly in response to market conditions and strategic opportunities.
Looking Ahead
Investors and analysts will be keen to monitor subsequent disclosures from AVJennings and PM Nominees C Pty Ltd. The next phases will clarify the acquisition’s financial impact, integration plans, and potential changes in governance or operational strategy.
Bottom Line?
AVJennings’ suspension marks a turning point, what unfolds next will define its future beyond the ASX.
Questions in the middle?
- What are the detailed terms and valuation of the acquisition scheme?
- How will PM Nominees C Pty Ltd integrate AVJennings’ operations post-acquisition?
- What is the expected timeline for completion and potential relisting or delisting?
