16 July 2025
Scheme of Arrangement Becomes Legally Effective
Further to the announcement made earlier today, Clean Seas Seafood Limited (ASX:
CSS, OSE: CSS) ("Clean Seas", "CSS", "the Company") confirms that the office
copy of the orders made by the Federal Court of Australia ("Court") approving
the proposed Scheme of Arrangement ("Scheme") under which all the issued shares
in Clean Seas will be acquired by Yumbah Aquaculture Limited ("Yumbah"), lodged
yesterday with the Australian Securities and Investment Commission ("ASIC")
pursuant to sub-section 411(10) of the Corporations Act 2001 (Cth), has now been
registered by ASIC.
An office copy of the Court orders lodged with ASIC is attached to this
announcement.
The Scheme is now legally effective. Quotation of Clean Seas Shares on the OSE
has been suspended and quotation on the ASX will be suspended from close of
trading today as stipulated in the announcement made earlier today.
Scheme Shareholders will receive the Default Cash Consideration of $0.14 per
ordinary share in the capital of Clean Seas unless a Scheme Shareholder (other
than Ineligible Shareholders) made a valid Election before the Election Deadline
to receive the Yumbah Scrip Alternative of one (1) New Yumbah Share for every
2.8571 Clean Seas Shares held (together, "Scheme Consideration").
Scheme Shareholders will receive the Scheme Consideration on the Implementation
Date (expected to be 24 July 2025) in respect of all Clean Seas Shares held as
at the Scheme Record Date, being 7:00pm (Adelaide time) on 18 July 2025.
This announcement is authorised by Rob Gratton, Chief Executive Officer.
For further information on Clean Seas Seafood, please contact:
Rob Gratton, CEO
rob.gratton@cleanseas.com.au
+61 434 148 979