HZN.ASX: Cue's Second Supplementary Target's Statement

Cue's Second Supplementary Target's Statement

Stock	Horizon Oil Ltd (HZN.ASX)
Release Time	11 Jun 2026, 4:52 p.m.
Price Sensitive	Yes

This feature provides summaries of price-sensitive announcements for companies followed by users on InvestorPA. The summaries are generated by large language models so please interpret with care.

Cue Rejects Horizon's Takeover Offer

Key Points

Cue's Independent Board Committee recommends shareholders reject Horizon's offer
Offer consideration declared 'best and final' with no increase
Horizon has secured acceptances for only 2.4% of Cue Shares
Cue remains well-capitalized with no debt

Full Summary

Cue Energy Resources Limited (ASX:CUE) has issued a Second Supplementary Target's Statement, urging shareholders to reject Horizon Oil Limited's (ASX:HZN) off-market takeover bid. The Independent Board Committee (IBC) continues to recommend shareholders take no action, citing the 'best and final' offer consideration, low acceptance rates, and Cue's strong financial position. As of June 11, 2026, Horizon had secured acceptances for only 2.4% of Cue Shares, excluding those held by Echelon. The offer remains conditional, with Horizon yet to declare it unconditional. Cue remains well-capitalized with an unaudited cash balance of A$16 million and no debt, as of May 30, 2026. The offer is scheduled to close on June 19, 2026, unless extended or withdrawn.