Costa Group Holdings (ASX:CGC) Update and Scheme Meeting

Costa Group Holdings Limited (ASX:CGC) provided an update on the proposed acquisition by a consortium through a scheme of arrangement. The Scheme Meeting is scheduled for 30 January 2024, and shareholders are encouraged to vote in favor of the Scheme. The Scheme Booklet, including the Independent Expert's Report, has been released, and the Independent Expert has concluded that the Scheme is fair and reasonable. Additionally, the company provided an update on the CY23 outlook, expecting the full-year EBITDA-S result to be below CY22 due to adverse weather conditions and changes in consumer sentiments.

Executive Commentary on Scheme and Outlook

The company's directors unanimously recommend voting in favor of the Scheme. The Scheme Booklet, which includes the Independent Expert's Report, provides shareholders with comprehensive information to make an informed decision. The adverse weather conditions and changes in consumer sentiments have impacted the CY23 outlook, leading to an expected decrease in the full-year EBITDA-S result compared to CY22.

Scheme Update and Outlook Summary

Costa Group Holdings Limited (ASX:CGC) has provided an update on the proposed acquisition through a scheme of arrangement, with the Scheme Meeting scheduled for 30 January 2024. Shareholders are encouraged to vote in favor of the Scheme, as recommended by the company's directors. The Scheme Booklet, including the Independent Expert's Report, has been released, affirming the fairness and reasonableness of the Scheme. Additionally, the company expects the full-year EBITDA-S result for CY23 to be below CY22 due to adverse weather conditions and changes in consumer sentiments. The announcement offers insights into Costa Group Holdings Limited's current position and future prospects, providing shareholders with essential information to consider before the Scheme Meeting.