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Stonepeak Scheme

Arvida has entered into a Scheme Implementation Agreement with Stonepeak Alps BidCo Limited (Stonepeak BidCo) under which Stonepeak BidCo will acquire all of the shares in Arvida at NZ$1.70 per share by means of a scheme of arrangement (Scheme).

Stonepeak BidCo is an indirect subsidiary of funds managed or advised by Stonepeak, a leading alternative investment firm specialising in infrastructure and real assets with approximately US$71.2 billion of assets under management.

At a special meeting of Arvida’s shareholders held on Wednesday, 25 September 2024 at 2.00pm, shareholders overwhelmingly voted in favour of the Scheme. The special resolution to approve the Scheme was passed by the requisite majorities of shareholders – 75 per cent or more of the votes cast in each interest class and more than 50 per cent of the total number of Arvida shares on issue.a meeting of Arvida shareholders was held in Auckland and online to consider the Scheme.

The voting results of the Scheme meeting are detailed here.