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The approval is, however, subject to certain conditions that will see the group re-propose the transaction to shareholders with the new conditions prescribed by RBZ.
"Shareholders are now advised that the company has received RBZ approval for the proposed transaction, subject to certain conditions imposed by the RBZ.
"The board is currently assessing the conditions and intends to re-propose the proposed transaction to shareholders in due course," Arden said in an update to shareholders.
In June last year, the company said it had commenced a process of reviewing its prospects, financial health, strategy, and ability to continue to operate as a listed investment holding company.
As part of the transaction, the voluntary liquidation saw the cancellation and de-listing of Arden's shares on the
As part of the transaction, Arden also sold its logistics company FML, which moves bulk fuel across the region, with the net proceeds used to pay off debts.
The sale was to an unrelated third party for a consideration of
Arden was initially established as a listed investment company through which shareholders could gain exposure to various investment sectors with a focus on
The group's listing was aimed at achieving liquidity for shareholders by providing them with a tradeable instrument on an internationally recognised stock exchange and providing the company with a platform through which to raise future funding for the growth of its portfolio.
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