Symbio Holdings Limited (SYM.AX) Scheme Update - Outcome of First Court Hearing

Symbio Holdings Limited (ASX:SYM) is pleased to provide an update on the status of the proposed scheme of arrangement under which Aussie Broadband Limited has agreed to acquire 100% of the issued shares in Symbio ("Scheme").

A copy of the Scheme Implementation Agreement was announced to the market on 1 November 2023 ("Scheme Implementation Agreement").

Scheme Meeting

The Federal Court of Australia ("Court") has ordered that Symbio convene a meeting of its shareholders to consider, and if thought fit, approve the Scheme ("Scheme Meeting"). The Scheme Meeting will be held virtually at:
https://meetings.linkgroup.com/SYMScheme24
at 11.00am (Sydney time) on 7 February 2024.

Scheme Booklet

The Court also approved the distribution to Symbio shareholders of a Scheme booklet providing information about the Scheme, and including the Independent Expert's Report and the notice of the Scheme Meeting ("Scheme Booklet").

A further announcement attaching the Scheme Booklet will be released to the ASX and the Scheme Booklet will subsequently be made available to Symbio shareholders following registration of the Scheme Booklet with the Australian Securities and Investments Commission.

Recommendation

The Symbio Board continues to unanimously recommend that Symbio shareholders vote in favour of the Scheme in the absence of a Superior Proposal and subject to the Independent Expert continuing to conclude that the Scheme is in the best interests of Symbio shareholders.

Each Symbio director who holds Symbio Shares intends to vote in favour of the Scheme in relation to all Symbio Shares held or controlled by them in the absence of a Superior Proposal and subject to the Independent Expert continuing to conclude that the Scheme is in the best interests of Symbio shareholders.

Miki Kando
Executive Assistant to CEO and CTO
Phone: +61-422-832-852
Email: investor@symbio.global

Michelle Loh
Cannings Strategic Communications
T: +61 497 834 937
E: mloh@canningscomms.com.au

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