Talon Energy details proposed acquisition by Strike Energy
Melbourne, Victoria
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August 15, 2023 01:15 PM Eastern Daylight Time
Talon Energy Ltd (ASX:TPD) CEO Colby tells Proactive the company has formalised a binding scheme implementation deed with Strike Energy Ltd (ASX:STX), a strategic move that will see Strike acquire all issued shares of Talon by the way of a scheme of arrangement.
On implementing the scheme, Talon shareholders are set to receive 0.4828 new Strike shares for every Talon share held as of the record date. In parallel, Talon has also initiated exploratory discussions centred on spinning out its 33% interest in the Gurvantes XXXV Project in Mongolia.
Hauser said the company was pleased to be entering into this scheme process with Strike Energy.
“Upon successful implementation of the scheme Talon shareholders will benefit from receiving an attractive premium for their shares and may also realise additional value from continued exposure to the Gurvantes development in Mongolia should the Mongolian demerger complete.
“Talon shareholders will benefit from becoming shareholders in the combined Strike Energy, which is expected to have a strong cashflow profile with a number of medium
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