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Clean Seas Seafood Limited (ASX:CSS)

ALERT: Price-sensitive ASX Announcement for CSS
Current share price for CSS : $0.135 0 (0%)+
Announcement
Release
13 May 2025 2:40PM
Price at Release
$0.135
Full Release
download
Summary
The Scheme Booklet registered with ASIC relates to a proposed acquisition of Clean Seas Seafood Limited (CSS) by the Consortium, comprising BGH Capital and others, via a Scheme of Arrangement. The document outlines the background to the proposal, the terms of the Scheme, reasons for and against the Scheme, and the process for shareholders to vote. It includes an Independent Expert’s Report assessing the Scheme as being in the best interests of shareholders, details on financial implications, tax consequences, and the expected timeline. The booklet addresses risks and alternatives to the Scheme, summarises stakeholder impacts, and provides instructions for voting and further information.
Key Points
  • The document is a Scheme Booklet related to the proposed acquisition of Clean Seas Seafood Limited (CSS) by the Consortium.
  • The Consortium intends to acquire all shares in CSS via a Scheme of Arrangement.
  • Background information is provided on the proposal, including the rationale and process leading up to the Scheme.
  • Shareholders are given reasons to vote for or against the Scheme, including the Independent Expert’s assessment.
  • The Independent Expert’s Report concludes the Scheme is in the best interests of CSS shareholders.
  • The booklet details the terms of the Scheme, including the consideration to be paid to shareholders.
  • Financial implications and tax consequences of the Scheme are outlined for shareholders.
  • The voting process, including eligibility and key dates, is clearly described.
  • Risks associated with both proceeding with and not proceeding with the Scheme are discussed.
  • Alternatives to the Scheme and potential outcomes are considered for shareholders.
  • The document summarises impacts on stakeholders and outlines the expected timeline for implementation.
  • Instructions are provided for shareholders on how to obtain further information or clarification.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.