Brief: Strike Energy To Acquire Talon

Talon Energy

14/08/2023 02:02

Aug 14 (Reuters) - Strike Energy Ltd  STX.AX :
    * STRIKE TO ACQUIRE TALON
    * ENTERED INTO A BINDING SCHEME IMPLEMENTATION DEED WITH
TALON
ENERGY LIMITED
    * TALON SHAREHOLDERS WILL RECEIVE 0.4828 NEW STRIKE SHARES
FOR
EACH TALON SHARE HELD
    * IMPLIED OFFER PRICE OF A$0.212 FOR TALON'S PERTH BASIN
BUSINESS
ALONE
    * TALON TO DEMERGE MONGOLIAN ASSET WITH POTENTIAL FOR
SHAREHOLDERS
TO RETAIN AN INTEREST IN ASSETS ALONG WITH A$850,000 CASH
    * TALON'S BOARD OF DIRECTORS UNANIMOUSLY RECOMMEND PROPOSED
TRANSACTION
    * ON A PRO FORMA BASIS, STRIKE SHAREHOLDERS WILL OWN 89% AND
TALON
SHAREHOLDERS WILL OWN APPROXIMATELY 11% OF ALL ISSUED STRIKE
    * COMBINED GROUP WILL HAVE CAPACITY TO GENERATE INITIAL
ANNUALISED
CASHFLOWS IN EXCESS OF A$82 MILLION FROM WALYERING GAS FIELD
ALONE
    * STRIKE HAS AGREED TO PROVIDE TALON WITH A A$6 MILLION
INTERIM
CONVERTIBLE FUNDING FACILITY

Source text for Eikon:  ID:nASXPqSw7 
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