Senex and EIG transaction and capital raising
Ian Davies, Managing Director and CEO 1 February 2017
EIG and Senex strategic arrangementEIG to become a substantial shareholder - currently holds 2.7% of Senex issued capital bought on-market
Working together to accelerate development of WSGP
Asset funding model to be jointly established across Senex portfolio
Material EIG funding available for WSGP project (up to US$300 million1)
Institutional Placement
A$55 million successfully raised2
15% of Senex issued capital
placed at an issue price of
31.5 cents
~12.6% placed to EIG2
~2.4% placed to institutional
and sophisticated investors
Strong support from existing shareholders
Share Purchase Plan
Offer for eligible shareholders to subscribe for up to A$15,000 of new Senex shares
Capped at A$40 million
Offered at the lower of a 5% discount to market or 31.5 cents with no brokerage costs to participants
1 Any future transaction or agreement between Senex and EIG regarding development funding will be subject to due diligence, any rel evant internal or regulatory approvals, and the parties reaching agreement on terms. 2 A portion of the placement to EIG is subject to FIRB approval.
Building a long term relationship with a respected global energy investorTo drive value from Senex's suite of growth projects
Accelerating the Western Surat Gas Project
To bring material gas online sooner and drive year on year volume growth
Increased balance sheet strength
To give Senex the financial flexibility to actively progress high quality growth
projects
Pursuing east coast gas market opportunities
To deliver new gas volumes into the structurally short east coast gas market
Exploiting our prime acreage position in the South Australian Cooper Basin
To support increased oil production and establish material gas production
Progressing and accelerating Senex's flagship Western Surat Gas Project
Exploiting Senex's large acreage position in the South Australian Cooper Basin
Actively pursuing growth opportunities to deliver gas into the east coast market
Senex Energy Limited published this content on 21 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 February 2017 22:02:10 UTC.
Original documenthttp://www.senexenergy.com.au/investor-centre/files/senex-eig-transaction-presentation/
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