L&M Energy Limited


Transaction Type: Takeover (Compulsory acquisition)

Offeror: New Dawn Energy Limited

Independent Adviser(s): KordaMentha (Rule 21), Northington Partners (Rule 22)

Offer commencement date: 21/11/2012

Offer closing date: 31/01/2013

Exemption: L&M Energy Limited - Exemption Notice 2012


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 notice on 24 January 2013 to acquire all the remaining shares from the outstanding shareholders.

LME was delisted from the NZX Main Board on 5 February 2013.