High Court approves MMH Scheme of Arrangement AMENDED

[note this is a rerelease of the earlier announcement but with the Sealed High Court orders attached]

MARKET ANNOUNCEMENT
12 June 2025

High Court Approves Marsden Maritime Holdings’ Scheme of Arrangement with Consortium

Marsden Maritime Holdings Limited (NZX:MMH) (MMH) advises that the High Court has made final orders approving the scheme of arrangement (Scheme) under which MMH entered into an agreement with a Consortium comprising Northland Regional Council, Port of Tauranga Limited and Ngāpuhi Investment Fund Limited (Tupu Tonu) (together, the Consortium) for the acquisition of all MMH shares other than those already held by Northland Regional Council at a price of NZ$5.60 per share in cash.

Subject to meeting final conditions and implementation of the Scheme, MMH has also requested that NZX suspend trading in its shares and delist MMH from close of trading on the Implementation Date.

Subject to the remaining customary implementation conditions being satisfied or waived by or at 8:00am on the Implementation Date, the Scheme timetable is:

Last day of trading in MMH shares on the NZX 17 June 2025
Trading in MMH shares suspended on the NZX Close of trading on 17 June 2025
Scheme Record Date (being the date for determining entitlements to participate in the Scheme) 5:00pm 19 June 2025
Implementation Date (being the date on which the Scheme is implemented in accordance with the Scheme plan) 26 June 2025
Delisting of MMH shares from the NZX Close of trading on 26 June 2025

Holders of MMH’s shares at 5:00pm on the Record Date (19 June 2025) will be entitled to receive the Scheme consideration of NZ$5.60 per share in cash, which will be paid on the Implementation Date (expected to occur on 26 June 2025).

MMH shareholders who wish to participate in the Scheme do not need to take any further action, except to make sure Computershare has their correct bank account details. More information on how to do this is on page 36 (Section 4.3) and 154 (Section 5.1) of the Scheme Booklet.

MMH shareholders who do not wish to participate in the Scheme must sell their shares before close of trading on 17 June 2025.

A copy of the sealed final orders of the High Court in relation to the Scheme are attached.


ENDS

For further information in relation to this announcement please contact:
Vidura Galpoththage, Chief Financial Officer
Marsden Maritime Holdings Limited
[email protected]

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Announcement PDF