Brief: Synthesis Energy Systems To Acquire Australian Future Energy

Synthesis Energy Systems

10/10/2019 23:14

Oct 10 (Reuters) - Synthesis Energy Systems Inc  SES.O :
    * SYNTHESIS ENERGY SYSTEMS TO ACQUIRE AUSTRALIAN FUTURE
ENERGY
    * SYNTHESIS ENERGY SYSTEMS INC - OFFER TO ACQUIRE 100% OF
BATCHFIRE RESOURCES, WITH MINIMUM ACCEPTANCE LEVEL SET AT 25%
    * SYNTHESIS ENERGY SYSTEMS INC - AFE WILL BECOME A WHOLLY
OWNED
SUBSIDIARY OF SES
    * SYNTHESIS ENERGY SYSTEMS INC - MUTUALLY AGREED PURCHASE
VALUE OF
AFE IS APPROXIMATELY $US 36 MILLION
    * SYNTHESIS ENERGY SYSTEMS INC - WILL ISSUE 3.9 MILLION NEW
SHARES
OF COMMON STOCK FOR ACQUISITION OF AFE
    * SYNTHESIS ENERGY - OFFER VALUES 100% OF BATCHFIRE AT ABOUT
$US
80 MILLION
    * SYNTHESIS ENERGY SYSTEMS - EACH HOLDER OF AFE ORDINARY
SHARES
WILL RECEIVE 1 SHARE OF CO FOR ABOUT EACH 24.44 AFE SHARE
    * SYNTHESIS ENERGY SYSTEMS INC - AS PART OF TRANSACTION,
KERRY
PARKER, CURRENT CEO OF AFE, WILL BE APPOINTED AS PRESIDENT AND
CEO OF SES
    * SYNTHESIS ENERGY SYSTEMS INC -  EDEK CHOROS, STEPHEN
LONIE,
RICHARD BARKER WILL BE APPOINTED TO BOARD
    * SYNTHESIS ENERGY SYSTEMS INC -  ROBERT RIGDON, WILL REMAIN
ON
BOARD
    * SYNTHESIS ENERGY SYSTEMS - BOARD OF DIRECTORS IS EXPECTED
TO
APPOINT ONE OR MORE ADDITIONAL, INDEPENDENT DIRECTORS AFTER
TRANSACTION
    * SYNTHESIS ENERGY SYSTEMS INC - ALL OTHER CURRENT DIRECTORS
OF
SES WILL RESIGN THEIR POSITIONS AT MERGER CLOSING
    * SYNTHESIS ENERGY SYSTEMS INC - AN APPOINTMENT OF A NEW
CHIEF
FINANCIAL OFFICER FOR SES WILL BE NAMED AT, OR PRIOR TO, CLOSING
    * SYNTHESIS ENERGY SYSTEMS INC - SIGNED A DEFINITIVE MERGER
AGREEMENT WITH AUSTRALIAN FUTURE ENERGY PTY LTD, A PRIVATE
COMPANY IN BRISBANE

Source text for Eikon:  ID:nGNX8x08gG 
Further company coverage:  SES.O 

 (Reuters.Briefs@thomsonreuters.com)