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Senex Energy withdraws merger proposal


Published Dec 17, 2013
Senex Energy Limited-3

Senex Energy Limited provides the following information in response to recent media reports:

On Wednesday 11 December, Senex submitted a non-binding, indicative proposal to merge with Australian-based oil and gas company AWE Limited.

The proposal for a friendly merger was subject to due diligence and consistent with Senex's disciplined approach to growth.

On Sunday 15 December, AWE advised that it will not engage and, as a result, Senex has withdrawn the proposal.

Senex Managing Director Ian Davies said Senex is a growth company with an experienced management team and a track record for delivery.

'The proposal presented to AWE was consistent with our strategy of applying experience and expertise to accelerate growth and realise value for shareholders,' he said.

Tags: Senex Energy Limited




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