Brief: Strike Energy Has Recently Been Engaged On Proposal To Acquire Talon Energy

Talon Energy

01/08/2023 02:54

Aug 1 (Reuters) - Strike Energy Ltd  STX.AX :
    * HAS RECENTLY BEEN ENGAGED WITH TALON ENERGY LIMITED ON A
PROPOSAL FOR STRIKE TO ACQUIRE ALL OF SHARES IN TALON ENERGY
LIMITED
    * PROPOSAL BY WAY OF SCHEME OF ARRANGEMENT AT AN AGREED
EXCHANGE
RATIO OF 0.4828 NEW STRIKE SHARES PER TALON SHARE
    * AT REQUEST OF TALON, PROPOSAL WAS TO ALSO INCLUDE AN
INTERIM
FUNDING FACILITY OF UP TO A$6 MILLION
    * PARTIES WERE UNABLE TO REACH MUTUALLY AGREEABLE TERMS TO
PROCEED
    * BOARD OF DIRECTORS HAVE CEASED ENGAGEMENT AND WILL
CONTINUE TO
OPERATE WALYERING L23/EP447 JOINT VENTURE IN NORMAL COURSE OF
BUSINESS

Source text for Eikon:  ID:nASX5mNQL7 
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 ((Reuters.Briefs@thomsonreuters.com;))