27 Apr 2022
RE Z ENERGY LIMITED [2022] NZHC 841
- Citation
- [2022] NZHC 841
- Court
- High Court
The Court approved the scheme because Z Energy complied with statutory and procedural requirements, provided adequate disclosure to shareholders, obtained requisite majorities at a fairly conducted meeting, secured necessary regulatory consents and a Takeovers Panel no-objection, the Independent Adviser placed the consideration within an acceptable valuation range, and contractual mechanisms (Deed Poll and trust account) eliminated payment risk, making approval reasonable and within the Court's discretion.