NSX Shareholders Set to Decide on CNSX-Linked Acquisition in October
NSX Limited has dispatched the Scheme Booklet to shareholders detailing the proposed acquisition by a CNSX-related entity, with a hybrid Scheme Meeting scheduled for 10 October 2025.
- Scheme Booklet dispatched to NSX shareholders
- Proposed acquisition by 1001290557 Ontario Inc., linked to CNSX Markets Inc.
- Hybrid Scheme Meeting set for 10 October 2025
- Proxy voting open until 8 October 2025
- Scheme subject to shareholder, court, and regulatory approvals
Background on the Scheme
NSX Limited (ASX, NSX) has taken a significant step forward in its proposed acquisition by 1001290557 Ontario Inc., a related entity of CNSX Markets Inc., the operator of the Canadian Securities Exchange. This follows the Federal Court of Australia's recent orders requiring NSX to convene a shareholder meeting to consider the Scheme of Arrangement under which the acquisition would proceed.
The Scheme aims to consolidate ownership by allowing the acquiring party to purchase all remaining shares in NSX that CNSX does not already hold. This move signals a potential shift in control and strategic direction for NSX, a notable player in Australia's financial services sector.
Dispatch of the Scheme Booklet and Shareholder Engagement
On 10 September 2025, NSX confirmed that the Scheme Booklet, which contains detailed information about the proposed acquisition, including the directors’ unanimous recommendation and an Independent Expert's Report, has been dispatched to shareholders. The booklet is also accessible online, ensuring broad availability for investors to make an informed decision.
Shareholders who have not specified their preferred format for receiving meeting materials or who requested hard copies have also received a letter outlining how to access the Scheme Booklet electronically, lodge proxy votes, and participate in the upcoming Scheme Meeting.
Upcoming Scheme Meeting and Voting Process
The Scheme Meeting is scheduled for 12, 00 pm (Sydney time) on Friday, 10 October 2025, and will be conducted as a hybrid event, allowing shareholders to attend either in person in Sydney or virtually via an online platform. This approach reflects a modern, flexible engagement strategy designed to maximize shareholder participation.
Proxy voting is already open, with a deadline of 12, 00 pm on Wednesday, 8 October 2025, for submissions. NSX strongly encourages shareholders to vote by proxy ahead of the meeting to ensure their voices are counted, given the importance of the vote in determining the future ownership of the company.
Next Steps and Regulatory Considerations
Following shareholder approval, the Scheme requires final court approval and is subject to regulatory conditions. Key dates include a second court hearing on 14 October 2025, the effective date of the Scheme on 15 October, and the implementation date on 24 October when ownership will formally transfer to the acquiring entity.
These steps underscore the complexity and regulatory scrutiny involved in such transactions, highlighting the importance of shareholder engagement and timely approvals to ensure a smooth transition.
Bottom Line?
As NSX shareholders prepare to vote, the outcome will shape the exchange’s future amid growing international market consolidation.
Questions in the middle?
- Will shareholder approval be secured given the strategic implications?
- How will regulatory authorities assess the acquisition’s impact on market competition?
- What operational changes might CNSX implement post-acquisition?
