28th Jan 2015 15:22
LONDON (Alliance News) - Mosman Oil and Gas Ltd said Wednesday that its takeover offer for Australian Securities Exchange-listed MEO Australia Ltd is currently valued at AUD0.011875 per MEO share.
The company said the implied value is based on the closing price for Mosman Shares of GBP0.0625 on Tuesday, although the value of the offer may change.
Last week, Mosman Oil and Gas said it had significantly improved its takeover offer for MEO Australia, improving its previous offer of one Mosman share for every 20 MEO shares, to one Mosman share for every 10 MEO shares.
Mosman, a New Zealand and Australia focussed oil exploration and development company, said Wednesday, that it has lodged with the Australian Securities and Investments Commission the bidder's statement in relation to the offer.
Mosman shares were down 17.6% Wednesday afternoon, trading at 5.15 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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