MMA Offshore Scheme Acquisition Announcement

MMA Offshore Limited (ASX: $MMA) has announced that the Federal Court of Australia has approved the proposed scheme of arrangement for the acquisition of 100% of its issued shares by Cyan MMA Holdings Pty Limited, a wholly-owned subsidiary of Cyan Renewables Pte. Ltd. The scheme is expected to become legally effective upon lodgement of the Court orders with the Australian Securities and Investments Commission (ASIC), with MMA shares anticipated to be suspended from trading on ASX from the close of trading on Thursday, 11 July 2024.

Executive Commentary on Scheme Acquisition

The approval of the scheme acquisition by the Federal Court of Australia marks a significant milestone for MMA Offshore. We believe that this acquisition will provide enhanced opportunities for the company and its stakeholders, allowing us to further strengthen our position in the market and pursue sustainable growth. We are committed to ensuring a smooth transition and will continue to communicate any developments to our shareholders and the market.

Summary of MMA Offshore Scheme Acquisition

MMA Offshore Limited (ASX: $MMA) has received approval from the Federal Court of Australia for the proposed scheme of arrangement, enabling the acquisition of 100% of its issued shares by Cyan MMA Holdings Pty Limited. The scheme is expected to become legally effective upon lodgement of the Court orders with ASIC. Following this, MMA shares are anticipated to be suspended from trading on ASX. The company remains dedicated to providing support and information to its shareholders throughout this process. The acquisition signifies a strategic move for MMA Offshore, reflecting its commitment to pursuing opportunities for sustainable growth and market leadership.