Shareholders in NZ Windfarms have voted in favour of a scheme of arrangement that will see Meridian Energy acquire all of the fully paid ordinary shares in the company that it does not already own.
The resolution to approve the scheme was passed by the requisite majorities of shareholders, with 75% or more of the votes cast in each interest class and more than 50% of the total number of shares on issue in favour.
The scheme is still subject to final orders from the High Court and the satisfaction of other customary implementation conditions.
The final hearing at the High Court is scheduled for July 16, 2025.
If the scheme is implemented, NZ Windfarms' shareholders, other than Meridian, will receive 25 cents per share in cash.
NZ Windfarms' shares are expected to be suspended from trading on the NZX Main Board two working days after the High Court's final orders are received.
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