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H3 ENERGY LIMITED — M&A Activity 2018
May 23, 2018
65034_rns_2018-05-23_a2504e38-e13e-43e0-9453-f3cd394c9303.pdf
M&A Activity
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Notice to WBE shareholders regarding TSVM
24[th] May 2018
Summary
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On 2 October 2015 TSV Montney Ltd (TSVM) was de-merged from Whitebark Energy Ltd (ASX: WBE) which was formerly called Transerv Energy Limited. Shareholders at the date of the demerger received 1 unlisted TSVM share for every 10 Transerv shares they held.
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On 2 May 2018, TVSM received an off-market takeover offer from Calima Energy Ltd (ASX: CE1). The offer is 3.33 listed CE1 shares for every 1 TSVM share.
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TSVM Directors have unanimously recommended TSVM shareholders accept the offer in the absence of a superior proposal.
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TSVM shareholders (i.e. Transerv shareholders at the time of the de-merger) should follow announcements by Calima and ensure they receive the Bidders Statement from Calima in order to consider the offer: www.calimaenergy.com and www.tsvm.com.au.
“I am pleased to see a recognition of value for long term Whitebark shareholders that received TVSM shares in the demerger from Transerv in October 2015. Along with our projects in Western Australia, Whitebark remains active in Canada where we have been growing production through a targeted acquisition strategy with our joint venture partner Point Loma Resources” said David Messina Managing Director of WBE.
David Messina Managing Director Ph: +61 8 6555 6000 E: [email protected]
T +61 8 6555 6000 F +61 8 6555 6099 E [email protected] whitebarkenergy.com Level 2, 6 Thelma Street West Perth WA 6005 PO Box 1195 West Perth WA 6872 Australia