Mareterram Limited - Sea Harvest Offer now Unconditional

Mareterram Limited - Sea Harvest Offer now Unconditional

Mareterram Limited (ASX: MTM) has been advised that Sea Harvest has declared its proportional off-market cash offer now Unconditional. Whilst certain regulatory conditions have been fulfilled, the majority of the remaining defeating conditions have now been withdrawn, including that the minimum acceptance level whereby Sea Harvest would hold greater than 50.1% voting power.


Sea Harvest International Proprietary Limited’s (Sea Harvest) conditional proportional off-market cash offer to acquire 1 out of every 2 shares held by Mareterram Limited (ASX:MTM) shareholders (other than Sea Harvest) for $0.35 cash per share (Offer) has now been declared unconditional.

The proportional takeover offer was subject to a number of conditions. A number of key conditions, including regulatory approval and transfer of licenses, have been fulfilled, whilst the remaining conditions have now been waived. One of the waived conditions was a minimum acceptance level of 50.1% being achieved. 

As at the date of this announcement, Sea Harvest's voting power in Mareterram was 37.85%.

The proportional takeover offer closes at 1700 AWST on Friday 22nd July 2016, unless further extended or withdrawn.

To read the full announcement click here

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