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Sino Gas & Energy Holdings Provides Reserves Resources, Operations and Lone Star Scheme Update

12 Jul 2018  |  08:57:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Reserves & Resources, Operations and Lone Star Scheme Update

Sino Gas & Energy Holdings provided an update on Reserves and Resources, operations and the proposed acquisition of the Company by Lone Star. The Directors of the Company appointed Grant Thornton Corporate Finance as independent expert for the purposes of the scheme. To assist in preparing its Independent Expert Report, Grant Thornton engaged RISC Advisory to prepare an Independent Technical Specialist Report, including an updated Reserves and Resources Report. It has entered into a Scheme Implementation Agreement with Lone Star, under which Lone Star proposes to acquire 100% of the issued share capital of the Company by way of a scheme of arrangement, for a cash consideration of A$0.25 per share (Scheme).

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