Shareholders of Australian aquaculture company Clean Seas Seafood have approved the proposed acquisition of the company by Yumbah Aquaculture. The resolution was passed at a scheme meeting held on July 9.
The company reported that 81.55 per cent of shareholders present and voting were in favour of the acquisition plan, and that these votes represented 98.78 per cent of all votes cast.
The scheme remains subject to the approval of the Federal Court of Australia at a hearing scheduled for July 15. If the court approves the deal, Clean Seas shares are expected to be suspended from trading on the ASX and OSE at the close of trading on that day.
Following court approval, the scheme record date for determining shareholder entitlements is expected to be July 17, and the scheme is scheduled to be implemented on July 24.
The scheme implementation deed between Clean Seas and Yumbah was originally announced on March 31, 2025.