We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
88 Energy Limited | LSE:88E | London | Ordinary Share | AU00000088E2 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.01 | 4.65% | 0.225 | 0.22 | 0.23 | 0.245 | 0.215 | 0.215 | 398,445,995 | 14:04:13 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 0 | -14.44M | -0.0006 | 0.00 | 0 |
TIDM88E
RNS Number : 1001S
88 Energy Limited
06 July 2020
6 July 2020
88 ENERGY LIMITED
XCD ENERGY - TAKEOVER UPDATE
-- 88 Energy ownership in shares and options of XCD Energy Ltd provides certainty of compulsory acquisition
88 Energy Limited (ASX: 88E; AIM: 88E) ("88 Energy") is pleased to advise that it has now reached a level of ownership in shares and options of XCD Energy Ltd that guarantees it will reach the minimum threshold required for compulsory acquisition. Consequently, the offer period will not be extended beyond 13th July.
Those that wish to benefit from the 7 day accelerated payment terms should accept into the offer immediately or risk a delay of up to approximately 50 days to receive the consideration shares under the compulsory acquisition timetable.
HOW TO ACCEPT THE OFFERS
88 Energy urges all XCD Energy shareholders and listed optionholders who have not yet accepted the Offers made to them to ACCEPT WITHOUT DELAY and take advantage of the accelerated payment terms to become an 88 Energy shareholder.
The Offers are now scheduled to close at 7.00pm (Sydney time) on 13 July 2020.
THE OFFER PERIOD WILL NOT BE EXTENDED.
Acceptance forms have been provided to XCD Energy listed securityholders. Securityholders who hold their XCD Energy shares and/or listed options through CHESS can instruct their broker to accept the Offers on their behalf.
If you have any queries in relation to how to accept the Offers or any other matter pertaining to the Offers, please do not hesitate to contact the 88 Energy Offer Information Line on 1300 095 745 (within Australia) or +61 3 9415 4300 (from outside Australia).
ACCELERATED PAYMENT TERMS
As previously announced, 88 Energy confirms that any XCD Energy shareholders and listed option holders who are yet to validly accept the Offers made to them will be issued with their 88 Energy shares within 7 business days of their acceptance being processed.
BEST AND FINAL OFFERS
88 Energy notes its Offers of:
-- 2.4 new 88 Energy shares for every 1 of your XCD Energy shares; and -- 0.7 new 88 Energy shares for every 1 of your XCD Energy listed options,
are 88 Energy's BEST AND FINAL OFFERS which will not be increased.
88 ENERGY INTENTIONS REGARDING COMPULSORY ACQUISITION
When 88 Energy acquires a relevant interest in XCD Energy of 90% or more, 88 Energy intends to proceed with compulsory acquisition of any outstanding XCD Energy shares and listed options under Part 6A of the Corporations Act. When this occurs, XCD Energy security holders who have their XCD Energy shares and listed options acquired compulsorily will NOT be eligible for accelerated payment terms.
This announcement has been authorised by the Board of 88 Energy.
-ENDS-
For further information, please contact:
Dave Wall Longreach Capital (Adviser to the Managing Director Transaction) 88 Energy Ltd Darren Martin Tel: +61 412 144 719 Media and Investor Relations: 88 Energy Ltd Dave Wall, Managing Director Tel: +61 8 9485 0990 Email: admin@88energy.com Finlay Thomson , Investor Relations Tel: +44 7976 248471 Cenkos Securities Cenkos Securities Tel: + 44 131 220 6939 Neil McDonald/Derrick Lee
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
MSCSSWSMMESSEEW
(END) Dow Jones Newswires
July 06, 2020 02:29 ET (06:29 GMT)
1 Year 88 Energy Chart |
1 Month 88 Energy Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions