Astral Ltd Withdraws Composite Scheme of Arrangement

Astral Ltd has decided to withdraw its Composite Scheme of Arrangement following a comprehensive review. An independent consultant recommended against proceeding with the scheme in its current form, citing the current scale of the Chemical Business. The Board considered feedback from stakeholders and the prevailing business environment. The company stated that the demerger of the Chemical Business may be considered once it achieves greater scale and financial strength. Astral remains committed to enhancing shareholder value and will explore other strategic initiatives.