Arvida has announced that Stonepeak has received all the necessary consents under the Overseas Investment Act for the implementation of Arvida's scheme of arrangement with Stonepeak.
This means that the OIO condition is now satisfied.
As a result, Arvida said, subject to the satisfaction or waiver of the remaining customary implementation conditions, the scheme is expected to be implemented and shareholders will be paid $1.70 per share in cash on November 20, 2024.
The updated scheme timetable includes the suspension of trading in Arvida shares on the NZX on October 29, 2024, the record date for the scheme on November 1, 2024, and the implementation date on November 20, 2024.
Arvida shareholders who wish to participate in the scheme do not need to take any further action, while those who do not wish to participate must sell their shares before the close of trading on October 29, 2024.
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