Clean Seas Shareholders Receive $0.14 Cash or Yumbah Shares in Acquisition
Yumbah Aquaculture has completed its acquisition of Clean Seas Seafood, with shareholders receiving cash or Yumbah shares as consideration. Clean Seas shares will be delisted from the ASX and OSE by 25 July 2025.
- Yumbah acquires 100% of Clean Seas shares via scheme of arrangement
- Shareholders paid $0.14 cash per share or issued Yumbah shares
- Clean Seas shares suspended since mid-July, delisting effective 25 July
- Shareholder election uptake between cash and scrip not disclosed
- Clean Seas to be removed from ASX and Oslo Stock Exchange listings
Acquisition Completion Marks New Chapter
Clean Seas Seafood Limited has officially been acquired by Yumbah Aquaculture Limited following the implementation of a scheme of arrangement on 24 July 2025. This transaction, which had been anticipated since earlier announcements, transfers full ownership of Clean Seas to Yumbah, a significant player in the seafood aquaculture sector.
Shareholders of Clean Seas were compensated according to their election – either a cash payment of 14 cents per share or an allocation of new Yumbah shares at a ratio of one Yumbah share for every 2.8571 Clean Seas shares held. The announcement did not specify the proportion of shareholders who opted for cash versus scrip, leaving some uncertainty about the immediate shareholder composition of Yumbah post-acquisition.
Market Impact and Delisting
Trading in Clean Seas shares was suspended on the Australian Securities Exchange (ASX) from 16 July and on the Oslo Stock Exchange (OSE) from 14 July, reflecting the impending change in ownership. The company has now applied for removal from both exchanges, with delisting expected to take effect after the close of trading on 25 July 2025. This move effectively ends Clean Seas’ independent public company status and consolidates its operations under Yumbah’s corporate umbrella.
The delisting will reduce the number of seafood aquaculture companies listed on these exchanges, potentially impacting sector liquidity and investor access. For Clean Seas shareholders who elected the scrip alternative, their investment now transitions into Yumbah shares, which may offer different risk and return profiles depending on Yumbah’s strategic direction.
Looking Ahead
While the acquisition closes a significant chapter for Clean Seas, it opens questions about Yumbah’s plans for integrating Clean Seas’ assets and operations. The seafood aquaculture sector is competitive and evolving, and Yumbah’s ability to leverage this acquisition for growth or efficiency gains will be closely watched by investors and industry observers alike.
Clean Seas’ CEO, Rob Gratton, remains a key contact point for further information, though the announcement was authorised by the Independent Board Committee, underscoring the transaction’s governance rigor. As the market digests this consolidation, attention will turn to Yumbah’s forthcoming disclosures and operational updates.
Bottom Line?
With Clean Seas now under Yumbah’s control and shares delisted, the seafood sector braces for strategic shifts and market realignments.
Questions in the middle?
- What proportion of Clean Seas shareholders chose cash versus Yumbah shares?
- How will Yumbah integrate Clean Seas’ operations and assets post-acquisition?
- What are the expected financial impacts and growth prospects for Yumbah following this deal?
