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Offeror(s): New Dawn Energy Limited
Independent Adviser(s): KordaMentha (Rule 21), Northington Partners (Rule 22)
Offer Date: 21/11/2012
Closing Date: 31/01/2013
Offer Type: Full
Exemption: L&M Energy Limited - Exemption Notice 2012
Summary of transaction:
On 21 November 2012, New Dawn Energy Limited (“New Dawn”) made a full takeover offer for all the shares and options in L&M Energy Limited (“LME”).
The offer price was AUD$0.06 in cash per share and between AUD$0.0004 – AUD$0.0599 in cash per option, depending on the date and terms of issue of each option.
The offer was conditional on, among other things, New Dawn receiving a minimum of 90% acceptances.
On 15 January 2013, New Dawn had received acceptances for 90.2516% of the ordinary shares of LME. New Dawn sent its compulsory acquisition documents on 24 January 2013 to acquire all the remaining shares from the outstanding shareholders.
LME was delisted on 5 February 2013.