Simpsons Solicitors advised Stream Group Limited on its script-for script takeover of Cerno Limited. The acquisition was completed through the offer of Performance Shares in Stream Group Limited for ordinary fully paid shares in Cerno Limited. The offer of Performance Shares was made under a prospectus for continuously quoted securities and the mandatory acquisition of Cerno shares was completed through the drag-along provisions of the constitution of Cerno Limited. Simpsons Solicitors advised on all aspects of the transaction including the obtaining of shareholder approval for the issue of Performance Shares, obtaining of ASIC relief to allow the use of a prospectus for continuously quoted securities for the offer of the Performance Shares, preparation of the prospectus and compliance with the Corporations Act.