Genex Power Ltd. (AU:GNX) has released an update.
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JPGA Partners Pty Ltd, a subsidiary of Electric Power Development Co., Ltd. (J-POWER), has made an off-market takeover bid for all ordinary shares of Genex Power Limited that it doesn’t already own. The bid involves a scheme of arrangement or a simultaneous takeover offer, with J-POWER’s interest in Genex increasing to 14.55% and additional shares under Institutional Acceptance Facility instructions at 0.16%. The finalization of the takeover is subject to certain conditions, including a minimum acceptance threshold and confirmation notice delivery to the IAF Agent.
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