The board of Adelphi Energy says it will unanimously accept a revised takeover offer by AWE Limited subsidiary ARC Energy, advising shareholders to also accept the offer if they are worried about being minority shareholders.
West Perth-based Adelphi Energy has urged its shareholders to take no action regarding an on-market takeover offer launched today by its major shareholder, oil and gas company AWE.
West Perth-based Adelphi Energy Ltd plans to raise $5.7 million through a non-renounceable rights issue with major shareholder ARC Energy Ltd subscribing for about 32 per cent of shares.
