Manawa Energy (NZE:MNW) Chief Executive Clayton Delmarter and Chief Financial Officer Phil Wiltshire will step down after implementing the scheme of arrangement in which Contact Energy (ASX:CEN, NZE:CEN) will acquire the company, according to a Thursday New Zealand bourse filing.
In a late Wednesday bourse filing, the company said its shareholders approved the proposed transaction during the scheme meeting, with 99.97% of votes cast and 84.83% of the company's total voting rights supporting the scheme.
The final phase, including high court approval, is underway, with Manawa's last trading day expected on July 7, the record date on July 9, and implementation set for July 11, pending all conditions being met, the Wednesday filing added.
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