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Takeover Offer for King Country Energy
Dear Unlisted Users
Please note the takeover offer announced today by King Country Energy (see below).
Accordingly trading in KCE stock on Unlisted has been halted until Monday 27 November.
Regards
Bruce
Cossill
Manager, Unlisted
Takeover Offer for King
Country Energy
The Board of King Country Energy (KCE)
has received a Takeover Notice from Todd Energy for 100% of
KCE at a price of $4.40 per share, in terms of Rule 41 of
the Takeovers Code Approval Order 2000. Currently Todd
Energy owns 35.38% of KCE.
The Board has formed an Independent Committee comprising the non-Todd Energy Directors of the Company: AJ Palmer, JGO Stubbs and GRH Gower. This Independent Committee will be proceeding with evaluating and making a recommendation on the Offer in accordance with the Takeovers Code.
The Independent Directors are concerned that all shareholders are fully and equally informed. Accordingly, we are requesting an immediate suspension of trading on Unlisted through to the opening of the market on Monday, 27th November.
Appropriate notification of receipt of notice of the Offer will be mailed to shareholders immediately. In the meantime shareholders are urged to take no action in response to the Offer.
AJ Palmer
Chairman
King
Country
Energy
ENDS
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