Comvita Limited
Transaction Type: Scheme of arrangement
Offeror / Other Party: Florenz Limited
Independent Adviser(s): Grant Samuel & Associates Limited
Date of meeting: 14/11/2025
On 17 August 2025, Comvita Limited (Comvita) and Florenz Limited (Florenz) entered into a scheme implementation agreement (the SIA) relating to a scheme of arrangement under which it was proposed that Florenz would acquire 100% of the ordinary shares in Comvita for consideration of $0.80 per share (the Proposed Scheme).
At the shareholder meeting, held 14 November 2025:
- 54.29% of the votes cast in the main interest class, that were entitled to be cast, were cast in favour of the Proposed Scheme (failing to meet the required 75% threshold); and
- 44.25% of total voting rights attached to shares in Comvita were cast in favour of the Proposed Scheme (failing to meet the required bare majority threshold).
The SIA was subsequently terminated by mutual agreement between Comvita and Florenz on the same day.
Grant Samuel & Associates Limited prepared the independent adviser’s report on the merits of the transaction.
