Brief: Galilee Energy Says Co And Vintage Agree Merger Terms

Gulf Stream Energy

15/08/2024 02:35

Aug 15 (Reuters) - Galilee Energy Ltd  GLL.AX :
    * GALILEE AND VINTAGE AGREE MERGER TERMS TO CREATE STRONGER
PLAYER
IN EAST COAST GAS
    * PROPOSED MERGER TO BE EFFECTED BY VINTAGE ACQUISITION OF
100% OF
GALILEE VIA AN ALL-SCRIP DEAL
    * 100% SCRIP SCHEME CONSIDERATION IMPLIES A SHARE PRICE OF
A$0.02
FOR GALILEE
    * COMBINED GROUP TO HAVE EXISTING APPRAISAL GAS PRODUCTION,
AMONG
OTHERS
    * GALILEE BOARD UNANIMOUSLY RECOMMENDS PROPOSAL IN ABSENCE
OF A
SUPERIOR PROPOSAL
    * UPON IMPLEMENTATION , VINTAGE AND GALILEE SHAREHOLDERS
WILL HOLD
60.2% AND 39.8% OF MERGED GROUP

Further company coverage:  GLL.AX 

 ((Reuters.Briefs@thomsonreuters.com;))