88 Energy Limited Update On Takeover Offer Acceptances (0984Q)
16 Giugno 2020 - 11:00AM
UK Regulatory
TIDM88E
RNS Number : 0984Q
88 Energy Limited
16 June 2020
16 June 2020
UPDATE ON TAKEOVER OFFER ACCEPTANCES
-- Acceptances received in respect of more than 37.58% of XCD Energy shares
-- All XCD Energy directors have accepted 88 Energy's takeover
offers in respect to their own holdings
88 Energy Limited (ASX: 88E; AIM: 88E) ("88 Energy") is pleased
to provide the following update in relation to its recommended
off-market takeover offers ("Offers") for all of the fully paid
ordinary shares and listed options on issue in XCD Energy Limited
(ASX: XCD) ("XCD Energy").
88 Energy has now received acceptances under the Offers and/or
commitments to accept under the pre-bid acceptance deeds in respect
of:
a) 262,964,620 fully paid ordinary shares in XCD Energy ("XCD
Energy Shares"), representing 37.58% of the XCD Energy Shares on
issue; and
b) 21,507,143 listed options, representing approximately 18.31%
of the listed options on issue in XCD Energy.
Importantly, all of XCD Energy's directors have now accepted the
Offers in respect of their own holdings.
How to Accept the Offers
To accept the Offers, you should carefully follow the
instructions in the Bidder's Statement and complete the Acceptance
Forms enclosed with the Bidder's Statement. The Offers are due to
close at 5:00pm (AWST) on 25 June 2020 (unless extended).
The XCD Energy directors continue to unanimously recommend that
XCD Energy security holders accept the Offers, in the absence of a
superior proposal and subject to the Independent Expert continuing
to conclude that the Offers are reasonable.
As at the date of this announcement, 88 Energy is not aware of
any superior proposal having been received by XCD Energy and XCD
Energy has not made 88 Energy aware of any party having an
intention to make such a proposal.
XCD Energy security holders that have any questions relating to
the Offers or how to accept the Offers made to them, should contact
the 88 Energy Information Line on 1300 095 745 (within Australia)
or +61 3 9415 4300 (for international callers), or your
professional financial adviser.
This announcement has been authorised by the Board of 88
Energy.
-ENDS-
For further information, please contact:
88 Energy Ltd Longreach Capital (Adviser to the
Dave Wall Transaction)
Managing Director Darren Martin
Tel: +61 412 144 719
Media and Investor Relations:
88 Energy Ltd Tel: +61 8 9485 0990
Dave Wall, Managing Director Email: admin@88energy.com
Finlay Thomson , Investor Relations Tel: +44 7976 248471
Hartleys Ltd Dale Bryan Tel: + 61 8 9268 2829
Cenkos Securities Neil McDonald/Derrick Tel: + 44 131 220 6939
Lee
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END
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