Brief: Genex Power Ltd Responds To Non-Binding Indicative Proposal

Genex Power

31/07/2022 23:38

Aug 1 (Reuters) - Genex Power Ltd  GNX.AX :
    * RESPONSE TO NON-BINDING INDICATIVE PROPOSAL
    * RECEIVED CONDITIONAL, NON-BINDING, INDICATIVE PROPOSAL
FROM SKIP
ESSENTIAL INFRASTRUCTURE FUND 1 AND STONEPEAK PARTNERS LLC2
    * HAS UNANIMOUSLY CONCLUDED THAT INDICATIVE PROPOSAL
UNDERVALUES
GENEX
    * INDICATIVE PROPOSAL IS NOT IN BEST INTERESTS OF HOLDERS OF
GENEX
SHARES AS A WHOLE
    * NOTES THERE IS NO CERTAINTY PROVISION OF LIMITED DUE
DILIGENCE
INFORMATION TO CONSORTIUM (IF IT OCCURS) WILL RESULT IN
CONSORTIUM PROVIDING REVISED PROPOSAL
    * WILLING TO ENGAGE WITH CONSORTIUM TO EXPLORE WHETHER
CONSORTIUM
CAN SUBMIT A REVISED PROPOSAL
    * ADVISED CONSORTIUM IT IS PREPARED TO PROVIDE CERTAIN
LIMITED DUE
DILIGENCE INFORMATION ON A NON-EXCLUSIVE BASIS FOR A REVISED
PROPORSAL
    * NOT PREPARED TO GRANT ACCESS TO DUE DILIGENCE REQUESTED BY
CONSORTIUM ON BASIS OF INDICATIVE PROPOSAL.

Source text for Eikon:  urn:newsml:reuters.com:*:nASXhPXSk
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