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FINWIRES

ClearView Wealth Says Court Hearing Set for Zurich Acquisition Approval, Declares Special Dividend

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ClearView Wealth (ASX:CVW) said the Supreme Court of New South Wales is scheduled to consider approving its proposed acquisition by Zurich Financial Services Australia at a second court hearing on Thursday, subject to shareholder approval at the scheme meeting on Monday, according to an Australian bourse filing on July 24 after market hours.

The company's shareholders and any other interested parties permitted by the court may appear and oppose the scheme by filing and serving the required notice of appearance together with a supporting affidavit at least one day prior to the hearing, per the filing.

The company also proposed a AU$0.05 per share fully franked special dividend, conditional on the scheme's completion, with payment expected on Aug. 12 to eligible shareholders on the Aug. 5 record date, according to a separate filing.

If the scheme becomes effective, the original AU$0.65 per share consideration will be reduced to AU$0.60, with shareholders receiving the special dividend separately, resulting in a potential total value of around AU$0.67 per share for eligible investors, including franking credits.

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