Strike Energy Limited
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How Does the Acquisition of Talon Energy by Strike Energy Help Grow it's Business?
Strike Energy Completes Acquisition of Talon Energy, Enhancing Its Market Position
Strike Energy Limited, an influential player in the energy sector, has successfully completed the acquisition of Talon Energy Limited, marking a significant expansion in its business operations. This acquisition, executed through a scheme of arrangement under the Corporations Act 2001, positions Strike Energy as a more formidable entity in the industry.
Details of the Acquisition
The acquisition process culminated with Strike Energy acquiring 100% of the issued capital in Talon Energy from its shareholders. In compliance with the terms of the Scheme, Talon shareholders, excluding Ineligible Foreign Shareholders and Cash Out Shareholders, received 0. 4828 new Strike shares for each Talon share they held as of the Scheme record date, 18 December 2023. These shares commenced trading on a deferred settlement basis from 15 December 2023 and are expected to transition to normal settlement trading on the ASX from 28 December 2023.
Special Provisions for Certain Shareholders
For Ineligible Foreign Shareholders and Cash Out Shareholders, the new Strike shares were issued to a sale nominee responsible for selling these shares.
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The proceeds from these sales are set to be distributed to the respective shareholders in accordance with the process outlined in the Scheme Booklet. This approach ensures a fair and equitable treatment of all shareholder categories in the acquisition process.
Impact of the Acquisition
This strategic acquisition by Strike Energy is a major development in the energy sector, enhancing the company's market position and portfolio. The integration of Talon Energy's assets and capabilities into Strike Energy's operations is expected to create significant synergies, optimizing performance and potentially increasing shareholder value.
Company and Media Contacts
Strike Energy’s continuous disclosure policy has ensured transparent communication regarding the acquisition process. For further information, shareholders and interested parties can contact Emma Alexander, Investor Relations & Corporate Manager at Strike Energy, or Paul Ryan from Citadel-MAGNUS for media-related inquiries.
The successful implementation of the acquisition of Talon Energy by Strike Energy marks a pivotal moment in the company's growth trajectory. The move not only expands Strike Energy’s asset base and operational capabilities but also signals a proactive approach in consolidating its position in the competitive energy market. This strategic acquisition is likely to have significant implications for the company's future direction and performance in the energy sector.
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