Brief: Strike Energy Updates On Off-Market Takeover Bid To Acquire All Of Shares In Warrego Energy

Strike Energy

05/01/2023 22:54

Jan 6 (Reuters) - Strike Energy Ltd  STX.AX :
    * UPDATES ON OFF-MARKET TAKEOVER BID TO ACQUIRE ALL OF
SHARES IN
WARREGO ENERGY LIMITED
    * NOTES HANCOCK ENERGY’S PROPOSAL TO INCREASE OFFER FROM
A$0.28
CASH PER WARREGO SHARE TO A$0.36  CASH PER WARREGO SHARE
    * WARREGO SHAREHOLDERS SHOULD NOTE THAT HANCOCK HAS NOT YET
ACTUALLY INCREASED ITS OFFER PRICE
    * HANCOCK'SOFFER PLACES TERMINAL VALUE ON WARREGO WHILE CO'S
OFFER
ALLOWS FOR WGO SHAREHOLDERS TO PARTICIPATE IN FUTURE POTENTIAL
UPSIDE
    * STRIKE'S OFFER IS NOT SUBJECT TO MINIMUM ACCEPTANCE
CONDITION &
IS SUBJECT ONLY TO  PRESCRIBED OCCURRENCES CONDITIONS
    * AS AT 5 JAN, STRIKE'S OFFER IMPLIES VALUE FOR WARREGO AT
A$459
MILLION, OR A$0.3750 PER WARREGO SHARE, BASED ON STRIKE’S
CLOSING PRICE

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