25/09/2007 - 10:51

Nexus acquires 10.9% Anzon stake

25/09/2007 - 10:51

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Victoria-based oil and gas explorer Nexus Energy Ltd has acquired a 10.9 per cent stake of Sydney rival Anzon Australia Ltd via on-market purchases and an off-market exchange.

Nexus acquires 10.9% Anzon stake

Victoria-based oil and gas explorer Nexus Energy Ltd has acquired a 10.9 per cent stake of Sydney rival Anzon Australia Ltd via on-market purchases and an off-market exchange.

 

 

The full text of a Nexus press release is pasted below

Nexus Energy Limited ("Nexus") has acquired a relevant interest of 40.4 million shares in Anzon Australia Limited ("Anzon"). This strategic stake represents 10.91% of the current issued capital of Anzon.

The relevant interest of 10.91% has been acquired via on-market purchases and an off-market exchange of Nexus shares for Anzon shares.

The on-market purchase of 26.8 million shares was acquired at a volume weighted average price of just under $1.69 per share.

The off-market acquisition of 13.6 million shares from a subsidiary of Viking Shipping Limited ("Viking") in exchange for shares in Nexus based on an exchange ratio of 1.1 Nexus shares for 1 Anzon share.

The off-market acquisition of 13.6 million shares from Viking was acquired in two tranches:

tranche one being the unconditional agreement to purchase 10.9 million shares and tranche two being the agreement to purchase 2.7 million shares which is conditional on FIRB approval.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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