Marsden Maritime Holdings has announced the implementation of a scheme of arrangement with a consortium comprising Northland Regional Council, Port of Tauranga and Ngāpuhi Investment Fund.
As a result, the consortium now holds all the shares in Marsden Maritime (MMH).
MMH shareholders, excluding the regional council, will receive a payment of $5.60 per share.
Trading in MMH shares on the NZX has been suspended and the company will cease to be listed on the exchange.
The existing directors have resigned and a new board of directors has been appointed by the consortium's majority shareholders.
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