Scheme Timing Update
TRANSACT
Tue, Oct 22 2024 09:20 am
Arvida Group Limited (Arvida) has been advised by Stonepeak Alps BidCo Limited (Stonepeak) that Stonepeak has been granted all necessary consents under the Overseas Investment Act 2005 (OIO Condition) to the implementation of Arvida’s scheme of arrangement with Stonepeak (Scheme) and accordingly the OIO Condition is now satisfied.
Following satisfaction of the OIO Condition, Arvida can confirm, subject to remaining customary implementation conditions being satisfied or waived, the Scheme is expected to be implemented and all shareholders at 5.00pm (NZ time) on the Record Date will be paid NZ$1.70 per share in cash on 20 November 2024.
The updated Scheme timetable is:
- Trading in Arvida shares on NZX suspended: 29 October 2024, close of trading
- Record Date for the Scheme: 1 November 2024, 5:00pm
- Implementation Date for the Scheme: 20 November 2024
Arvida shareholders who wish to participate in the Scheme do not need to take any further action. Arvida shareholders who do not wish to participate in the Scheme must sell their shares before the close of trading on 29 October 2024.
– Ends –
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