Manawa Energy shareholders approve Contact acquisition

Manawa Energy shareholders have voted overwhelmingly in favour of the proposed scheme of arrangement with Contact Energy.

At the scheme meeting, 99.97% of votes cast, excluding abstentions, were in favour of the scheme, while 84.83% of the total voting rights in the company also supported it.

The scheme, which is still subject to certain conditions, would involve Contact acquiring all of Manawa's shares.

The final steps in the scheme process will now be undertaken, including applying to the High Court for final orders.

If approved, the last day of trading in Manawa shares is expected to be on July 7, 2025, with the implementation of the scheme anticipated to occur on July 11, 2025.

Manawa Energy is New Zealand's largest independent electricity generator and renewables developer.