ASX Announcement
5 February 2018
AWE Board Rejects CERCG Australia Bid
AWE's board of directors has considered the $0.73 per share cash takeover bid from China Energy Reserve and Chemical Australia Pty Ltd (CERCG Australia).
The directors have unanimously recommend that shareholders DO NOT ACCEPT the offer from CERCG Australia, and accordingly shareholders should TAKE NO ACTION in respect of any documents received from CERCG Australia.
The reasons for this recommendation will be set out in due course in AWE's Target's Statement, but include that the subsequent $0.95 per share cash bid received from Mitsui & Co., Ltd. (Mitsui) provides shareholders with a price which is $0.22 per share or 30% higher than the price offered by CERCG Australia.
For further information please contact:
David Biggs | Matthew Sullivan |
CEO and Managing Director | Investor Relations and Corporate Affairs |
Phone: +61 2 8912 8000 | Phone: +61 2 8912 8022 |
Matthew.sullivan@awexplore.com |
AWE LIMITED LEVEL 12, SUITE 1201, 100 PACIFIC HIGHWAY NORTH SYDNEY NSW 2060 AUSTRALIA
P +61 2 8912 8000 F +61 2 9460 0176 Eawe@awexplore.com ABN 70 077 897 440 www.awexplore.com
AWE Limited published this content on 05 February 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 04 February 2018 22:49:00 UTC.
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