Shareholders in Marsden Maritime Holdings have voted in favour of a scheme of arrangement that would see all fully paid ordinary MMH shares, except those held by the Northland Regional Council, acquired by a consortium.
The consortium comprises the Northland Regional Council, Port of Tauranga, and Ngāpuhi Investment Fund.
More than 75% of each of the three separate voting interest classes supported the scheme, and over 50% of the total number of shares on issue voted in favour.
If the scheme is finalised, shareholders will receive $5.60 per share in cash, representing a 73% premium to Marsden Maritime's share price of $3.24 on February 24.
The scheme is still subject to the receipt of a "no-objection statement" from the Takeovers Panel and final High Court approval.
The indicative date for the final court hearing is June 11, 2025.
Implementation of the scheme is expected to be around June 26, 2025, after which Marsden Maritime will be delisted from the NZX.
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