Vonex Shareholders Back MaxoTel Takeover, Await Court Nod
Vonex Limited shareholders have overwhelmingly approved Maxo Telecommunications’ acquisition scheme, setting the stage for a court decision that could delist Vonex from the ASX.
- 99.6% of votes cast approved MaxoTel’s acquisition scheme
- 76.3% of eligible shareholders participated in the vote
- Supreme Court hearing scheduled for 9 October 2025
- Vonex shares expected to be suspended and delisted post-approval
- Shareholders to receive $0.036 cash per share upon scheme implementation
Shareholder Approval Signals Strong Support
Vonex Limited (ASX, VN8) has secured a decisive green light from its shareholders for the proposed acquisition by Maxo Telecommunications Pty Ltd (MaxoTel). At the scheme meeting held on 23 September 2025, an overwhelming 99.6% of votes cast were in favour of the scheme resolution, with 76.3% of eligible shareholders participating. This level of support underscores a broad consensus among investors that the acquisition is a positive step forward for the company.
Next Steps, Court Approval and Regulatory Filings
The scheme now moves to the next critical phase, approval by the Supreme Court of New South Wales. The court hearing is scheduled for 9.15am on 9 October 2025. If the court grants its approval, Vonex will lodge the court orders with the Australian Securities and Investments Commission (ASIC) the same day, marking the scheme’s effective date. This regulatory milestone is essential for the acquisition to proceed.
Implications for Vonex Shares and Shareholders
Following court approval, Vonex shares are expected to be suspended from trading on the ASX at the close of 9 October 2025. The scheme’s implementation date is set for 20 October 2025, with a record date of 13 October 2025 determining shareholder entitlements. Registered shareholders on the record date will receive a cash payment of $0.036 per share as consideration for their holdings. Subsequently, Vonex will be delisted from the ASX on 21 October 2025, ending its tenure as a publicly traded entity.
Strategic Context and Market Impact
Vonex operates as a full-service telecommunications provider, focusing on infrastructure and hosted PBX and VoIP services for small to medium enterprises. The acquisition by MaxoTel, which already holds a stake in Vonex, suggests a strategic consolidation within the telecom services sector. While the announcement does not detail post-acquisition plans, the move could enable MaxoTel to expand its footprint and streamline operations in a competitive market.
Investors will be watching closely for the court’s decision, which will ultimately determine the fate of Vonex’s public listing and the realisation of value for shareholders. The cash consideration offered provides a clear exit price, but questions remain about the longer-term strategic direction under MaxoTel’s ownership.
Bottom Line?
With shareholder backing secured, all eyes now turn to the court’s verdict, which will seal Vonex’s fate on the ASX.
Questions in the middle?
- Will the Supreme Court approve the scheme without modifications?
- What are MaxoTel’s strategic plans for Vonex post-acquisition?
- How might the delisting affect Vonex’s existing customers and partners?
