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Geodynamics Ltd Announces Takeover Offer For KUTh Energy Limited

Tuesday, 17 Sep 2013 11:13pm EDT 

Geodynamics Ltd and KUTh Energy Limited announced that they have entered into a binding takeover bid implementation agreement (TBIA) under which Geodynamics will make an off-market takeover bid (offer) to acquire all of the issued ordinary shares in KUTh. The offer is one Geodynamics share for every five and a half (5.5) KUTh Shares (subject to rounding), representing a 31.6% premium based on the 30 day VWAPs (volume weighted average prices) of Geodynamics and KUTh shares as at September 17, 2013. The offer price based on Geodynamics’ closing price on the September 17, 2013 values KUTh at approximately $2.65 million based on 145,845,600 ordinary shares on issue and will require Geodynamics to issue 26,517,390 shares to complete the proposed acquisition. 

Company Quote

-0.0030 -6.82%
19 Dec 2014