Australia's 92 Energy rises on merger with Canada's ATHA Energy

Atha Energy

08/12/2023 01:06

** Shares of 92 Energy  92E.AX  rise as much as 42.5% to
A$0.520, set for best day since Sept 20, 2021, if gains hold
    ** The uranium explorer says it entered into a three-way
merger under which Canada-listed ATHA  SASK.CD  proposes to
acquire 100% of 92E via a scheme of arrangement
    ** Under the proposal, 92E shareholders will receive 0.5834
ATHA shares for every 92E share held on Dec 8
    ** Stock at highest level since Nov 23, 2022
    ** About 2.6 mln shares change hands, compared with the
30-day average volume of 330,447
    ** Stock down 15.2% YTD, as of last close

    

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))