Source: Kapitales ResearchHighlights

• Qoria completed the implementation of its Scheme of Arrangement, with all ordinary shares transferred to Aura Consolidated Group in exchange for Scheme Consideration CDIs.
• Aura successfully completed its US$100 million capital raise before costs, strengthening the combined group's financial position following the acquisition.
• The transaction also triggered changes to Qoria's board, while the company has applied for delisting from the ASX, expected to take effect after market close on 20 July 2026.

Qoria Limited (ASX: QOR) traded unchanged at AU$0.235 after confirming the successful implementation of its Scheme of Arrangement under which Aura Consolidated Group has acquired all issued ordinary shares in the company. The announcement marks the completion of a significant corporate transaction that combines Qoria with Aura, finalises the associated capital raising and sets the stage for the company's removal from the Australian Securities Exchange.Scheme of Arrangement Successfully CompletedThe Scheme has now been fully implemented, resulting in all Qoria shares being transferred to Aura. Under the agreed transaction terms, eligible shareholders received one Scheme Consideration CDI for approximately every 17.32 Qoria shares held on the record date of 10 July 2026. In total, 81,278,566 Scheme Consideration CDIs were issued as consideration under the Scheme. Shareholders holding unmarketable parcels who did not make an election will instead receive cash payments through the Direct Cash-Out Facility based on a market value of AU$5.4917753529142 per Scheme Consideration CDI, equivalent to AU$0.317123 per Qoria share.US$100 Million Capital Raising CompletedAlongside completion of the acquisition, Aura successfully finalised its US$100 million capital raise before costs. The newly issued Aura CDIs, including securities issued under both the capital raising and the Scheme, are expected to commence normal trading on the ASX on 20 July 2026 following the conclusion of the conditional and deferred settlement trading period. The capital raising provides additional financial capacity to support the combined business as it begins operating under the new ownership structure.Board Transition Follows Transaction CompletionImplementation of the Scheme has resulted in a comprehensive change to Qoria's board. Peter Pawlowitsch, Tim Levy, Georg Ell, Matthew Stepka, Philip Warren and Dr Jane Watts have stepped down as directors of Qoria. At the same time, William Lundregan, Stephanie Majteles and Ben Jenkins have joined the board. Aura's board now comprises Hari Ravichandran as Managing Director and Chief Executive Officer, together with Peter Pawlowitsch, Tim Levy, Sujay Jaswa, Jeffrey Katzenberg, Matthew Stepka and James Cash.ASX Delisting Process UnderwayFollowing completion of the transaction, Qoria confirmed that trading in its shares had already been suspended after the close of trading on 8 July 2026. The company has now formally applied to be removed from the official ASX list, with delisting expected to become effective from the close of trading on 20 July 2026. Once completed, Aura CDIs will become the primary listed security available to former Qoria shareholders.Transaction Marks Completion of Corporate CombinationThe implementation of the Scheme concludes the acquisition process and establishes the combined group under Aura's ownership. With the capital raising completed, the new board appointed and the ASX delisting process underway, the transaction represents the final step in transitioning Qoria shareholders into ownership of the enlarged Aura group through the issued Scheme Consideration CDIs.Note- All data presented is based on information available at the time of writing.Disclaimer for Kapitales ResearchThe materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise. 

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