FIRB Condition Satisfied for Proposed Scheme

Source: www.gulfoilandgas.com 2/18/2022, Location: Not categorized

Senex Energy Limited wishes to advise that POSCO INTERNATIONAL Corporation (“PIC”) has received written confirmation from the Foreign Investment Review Board ("FIRB") that the Commonwealth has no objection to the proposed acquisition of Senex by PIC, through its subsidiary K-A Energy 1 Pty Ltd, via a scheme of arrangement (“Scheme”).

The receipt of the 'no objection letter' from FIRB satisfies the condition precedent in clause 3.1(a) of the Scheme Implementation Agreement (“SIA”) between Senex and PIC, a copy of which was released to the ASX on 13 December 2021. The implementation of the Scheme remains subject to certain other conditions, as outlined in section 3.1 of the SIA.1

The Senex Board continues to unanimously recommend that Senex Shareholders vote in favour of the Schemes at the Scheme Meeting commencing at 9.00 am AEST (Brisbane) / 10:00am AEDT (Sydney, Melbourne) on Tuesday, 15 March 2022, in the absence of a Superior Proposal. Subject to the same qualification, each member of the Senex Board intends to vote, or procure the voting of, all shares he or she controls at the time of the Scheme Meeting in favour of the Scheme.


Argentina >>  8/12/2022 - Echo Energy plc, the Latin American focused Energy company, is pleased to announce a proposed comprehensive debt restructuring together with a placing...
Nigeria >>  8/12/2022 - Seplat Energy PLC ("Seplat" or the "Company"), a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and London S...

United Kingdom >>  8/12/2022 - Highlights
· Share placement commitments to raise A$14.9 million gross proceeds.
· Issue price of A$0.009 per share represents a 18.2% dis...

United States >>  8/12/2022 - The Board of Directors of Westlake Corporation authorized the company to repurchase an additional $500 million of shares of its common stock under its...

United States >>  8/12/2022 - Canadian Overseas Petroleum Limited ("COPL" or the "Company"), an international oil and gas exploration, production and development company with produ...
Bermuda >>  8/11/2022 - This is a correction of press release issued August 11, 12:26 CET. Full pay out of the PSU award is subject to reaching $ 10.00 per share on 75% of th...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.