Brief: Genex Power Confirms Revised Non-Binding, Indicative Proposal

Genex Power

17/08/2022 24:04

Aug 17 (Reuters) - Genex Power Ltd  GNX.AX :
    * RECEIPT OF REVISED NON-BINDING, INDICATIVE PROPOSAL
    * REVISED CONDITIONAL, NON-BINDING, INDICATIVE PROPOSAL FROM
CONSORTIUM TO ACQUIRE ALL OF GENEX SHARES ON ISSUE FOR A$0.250
    * BOARD CONSIDERS THAT IT IS IN INTERESTS OF GENEX
SHAREHOLDERS AS
A WHOLE TO ENGAGE FURTHER WITH CONSORTIUM
    * TO PROVIDE CONSORTIUM WITH OPPORTUNITY TO CONDUCT
CONFIRMATORY
DUE DILIGENCE
    * GENEX NOTES NO CERTAINTY THAT PROVISION OF DUE DILIGENCE
WILL
RESULT IN CONSORTIUM PROVIDING A BINDING PROPOSAL
    * IT IS BOARD'S CURRENT INTENTION TO UNANIMOUSLY RECOMMEND
SHAREHOLDERS VOTE IN FAVOUR OF PROPOSED SCHEME

Source text for Eikon:  ID:nASXc5vhw5 
Further company coverage:  GNX.AX 

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