Black Star Petroleum Ltd: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Sunseeker Minerals Ltd Enters Into Implementation Agreement With Black Star Petroleum Limited
Sunseeker Minerals Ltd announced that it has entered into an implementation agreement with Black Star Petroleum Limited (Black Star), pursuant to which the Company will acquire all of the issued capital in Black Star through an offer to Black Star shareholders (Acquisition). Completion of the implementation agreement is conditional on ASX and shareholder approval and the Company becoming entitled to acquire 100% of Black Star as a result of Black Star shareholders accepting the offer to be made to them by Sunseeker. The acquisition is subject to shareholder approval. The consideration to be paid to the Black Star Vendors for 100% of Black Star Shares will be the issue of: 55,000,000 fully paid ordinary shares; and 36,666,666 options exercisable at AUD 0.20 on or before December 31, 2017, which will be apportioned amongst the Black Star Vendors in proportion to their interests in Black Star (held either directly or indirectly).
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