CUE.ASX: TOV: CUE - Panel Declines to Conduct Proceedings

TOV: CUE - Panel Declines to Conduct Proceedings

Stock	CUE Energy Resources Ltd (CUE.ASX)
Release Time	13 Apr 2026, 5:30 p.m.
Price Sensitive	Yes

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Takeovers Panel Declines to Conduct Proceedings on CUE Energy

Key Points

Panel declines to conduct proceedings on CUE Energy's application
Relates to Horizon Oil's off-market takeover bid for CUE Energy
Panel finds no reasonable prospect of unacceptable circumstances

Full Summary

The Takeovers Panel has declined to conduct proceedings on an application from Cue Energy Resources Limited (Cue) in relation to its affairs. Cue is currently the subject of an off-market takeover bid by Horizon Oil Limited (Horizon). Cue's application concerned a pre-bid agreement between Horizon and Echelon Resources Limited (Echelon) pursuant to which Echelon agreed to sell an amount of shares equal to approximately 19.99% of Cue's shares to Horizon. Cue also raised issues regarding an alleged undisclosed association between Horizon and Echelon and alleged contraventions of standstill-like provisions in consultancy agreements between Cue and Echelon. After considering the matter, the Panel concluded that there was no reasonable prospect that it would make a declaration of unacceptable circumstances. Accordingly, the Panel declined to conduct proceedings.