Cue Energy Resources: Horizon Oil Updates Bid Conditions
Key points
- Horizon Oil updates status of its off-market takeover bid for Cue Energy Resources.
- The bid is now free from certain conditions but remains subject to one.
- Horizon Oil holds a 52.46% voting power in Cue Energy Resources.
Full summary
Horizon Oil Limited has updated the status of its off-market takeover bid for all ordinary shares in Cue Energy Resources Limited. The bid is now free from certain conditions but remains subject to one condition. As of the announcement, Horizon Oil holds a 52.46% voting power in Cue Energy Resources, comprising 368,216,244 Cue Shares out of a total of 701,937,414 Cue Shares presently on issue.
Outlook
The bid's status update suggests Horizon Oil is progressing with its takeover bid, subject to the remaining condition.
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