Beskrivning
| Land | Australien |
|---|---|
| Lista | Euronext Growth Oslo |
| Sektor | Handel & varor |
| Industri | Dagligvaror |
2025-03-31 00:29:01
31 March 2025
o CSS has entered into a scheme implementation deed with Yumbah under which
Yumbah has agreed to acquire 100% of the shares in CSS by way of a scheme of
arrangement.
o Under the terms of the Scheme, CSS shareholders will have the option to
receive $0.14 cash per share or an unlisted scrip alternative in Yumbah.
o The $0.14 cash consideration per CSS share represents a 52% premium to the
closing share price of $0.092 per share on 18 February 2025 and a 47% premium
to the 1-month volume weighted average price up to and including 18 February
2025.
o The Clean Seas IBC unanimously recommends that CSS shareholders vote in favour
of the Scheme, in each case in the absence of a superior proposal and subject to
an Independent Expert concluding (and continuing to conclude) that the Scheme is
in the best interests of CSS shareholders.
o The Scheme is subject to certain conditions, including approval by CSS
shareholders at a Scheme Meeting.
o Subject to satisfaction of the conditions, implementation of the Scheme is
expected to occur in July 2025. If the Scheme is implemented, CSS will be
delisted from the ASX.
Overview of the Scheme
Clean Seas Seafood Limited (ASX: CSS) ("Clean Seas", "CSS", "the Company") has
entered into a Scheme Implementation Deed ("SID") with Yumbah Aquaculture Ltd
("Yumbah") under which Yumbah will acquire 100% of the shares in CSS by way of
scheme of arrangement ("Scheme") ("Yumbah Binding Offer").
Subject to all applicable conditions being satisfied or waived and the Scheme
being implemented, CSS shareholders will receive:
cash consideration of $0.14 per share ("Cash Consideration")