Astral Ltd Withdraws Composite Scheme of Arrangement

Astral Ltd has decided to withdraw its Composite Scheme of Arrangement. Following an independent review, the company concluded that the current scheme may not be in the best interests of the company and its shareholders at this stage. The demerger of the Chemical Business will be considered once it achieves greater scale and financial strength. The Board reviewed feedback from consultants, stakeholders, and market participants, considering the prevailing business environment and long-term strategic objectives. Astral remains committed to enhancing shareholder value and will explore other strategic initiatives for business growth.