Strike gets major holding in UIL
PERTH (miningweekly.com) – ASX-listed Strike Energy has declared its takeover offer for fellow-listed UIL Energy unconditional.
Strike in October launched a takeover offer for UIL, offering 0.485 Strike shares for every one UIL share held.
Strike said at the time of the offer that the takeover presented a compelling opportunity to build a material domestic gas business in the Perth basin that would complement Strike’s extensive holding in the Cooper basin.
The addition of the UIL assets would also diversify Strike’s portfolio across multiple plays in the Perth basin, with the merged group to have some 3 000 km2 across the basin.
Strike on Wednesday said that its shareholding in UIL has now increased to around 56%, following the acceptance of UIL’s unrelated shareholders of the offer.
With Strike now obtaining a majority interest in the company, it has announced the appointment of Andrew Seaton and Stuart Nicholls as directors the UIL board, and has procured the resignation of each of the current UIL directors, other than Stephen Bizzell.
The remaining UIL shareholders have been urged to accept the takeover offer, which will close on December 14.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation














