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Superannuation
12 May 2025 by InvestorDaily team

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Shareholders approve Count takeover

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By
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2 minute read

Count shareholders have voted in favour of CBA's takeover.

Shareholders of Count Financial (Count) have voted in support of the scheme of arrangement that will see the Commonwealth Bank of Australia (CBA) buy all outstanding shares in the company.

They also voted in favour of cancelling all outstanding options on Count shares during a shareholder meeting held on Friday.

Almost 95 per cent of shareholders cast their vote, while 99.4 per cent of those who voted did so in favour of the acquisition by CBA.

Only 69 shareholders, or 1.1 million of the total 182 million votes, were cast against the takeover.

The takeover was subject to 75 per cent of shareholders voting in favour of the resolutions.

A slightly higher percentage of votes were cast against the cancellation of Count options, with 5.5 per cent of option holders voting against the resolution.

The takeover of Count by CBA remains subject to Court approval at the second Court hearing scheduled for 2.15pm today.

CBA made its $373 million takeover offer for Count in August.