Genex Power Ltd. (AU:GNX) has released an update.
Genex Power Limited announces an update on its acquisition by Electric Power Development Co., Ltd. (J-POWER), including a cash offer for all ordinary shares not already owned by J-POWER or excluded shareholders. J-POWER will make a members’ scheme of arrangement offer at A$0.275 per share, and a conditional off-market takeover offer at A$0.270 per share. The company will send a detailed Transaction Booklet to shareholders in early to mid-June, following ASIC’s granted relief allowing an extended timeframe for the offer to be made.
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