AWE Directors Recommend Mineral Resources AUD 0.83 bid. Sell on Market.
It looks like it’s all over for AWE with directors unanimously recommending Mineral Resources’ cash and scrip takeover offer via scheme of arrangement. Under the proposal, AWE shareholders will receive AUD 0.415 in cash and between 0.0198 and 0.0277 Mineral Resources shares per AWE share, valuing AWE at AUD 0.83 if the Mineral Resources volume-weighted-average-price, or VWAP, is between AUD 15 and AUD 21 during the 10 trading days to the scheme vote. Shareholders can elect to receive 100% cash o...AWE is an independent energy company focused on upstream oil and gas opportunities. Co. has a portfolio of production, development and exploration assets in Australia, New Zealand, and Indonesia. As of June 30 2016, Co. had total proved developed and undeveloped reserves of 44.4 million barrels of oil equivalents, which consisted of 151.9 petajoules of sales gas, 73.4 kilotons of liquefied petroleum gas, 0.9 million barrels of condensate, and 17.4 million barrels of oil.
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