Another shareholder agrees to sell shares in MMH

Another shareholder agrees to sell shares in MMH
to consortium
M A Janssen Limited has entered into a voting agreement with the
consortium proposing to acquire the minority shareholding in Marsden
Maritime Holdings.

M A Janssen Limited, which currently holds 430,833 shares (1.04%) of
Marsden Maritime Holdings (NZX: MMH), has committed to selling its
shares to the consortium, comprising Port of Tauranga Limited (NZX:
POT), Northland Regional Council and Tupu Tonu (Ngāpuhi Investment
Fund).

The proposal is to acquire all of the MMH shares not already held by
Northland Regional Council, via a Scheme of Arrangement at $5.60 per
share. The Board of Marsden Maritime Holdings has unanimously
recommended that shareholders vote in favour of the offer, which is
above the midpoint of an Independent Appraiser’s valuation. Port of
Auckland (19.90% of shares) and Salt Funds Management (3.49%) have
already agreed to vote in favour of the Scheme.

Shareholders will have the opportunity to vote on the proposal at a
special shareholders’ meeting on 29 May.

If the transaction proceeds, the consortium will form a new holding
company to acquire all of MMH’s shares by that holding company. Port
of Tauranga will also exchange its shareholding in Northport Limited
(currently owned 50/50 by Port of Tauranga and MMH) for additional
shares in the holding company. Following the transaction, Port of
Tauranga will hold 50% of the holding company, Northland Regional
Council will hold a 43% stake and Tupu Tonu will hold a 7% stake.

Shareholders can access all of the information related to the Scheme at
the Marsden Maritime Holdings website:
https://marsdenmaritime.co.nz/investors-area/scheme-2025/.


For further information, please contact:
Geoff Senescall
021 481 234
Media Release
14

MAY 2025