Pan Pacific Petroleum NL (Pan Pacific), a South East Asia and Australia-New Zealand focused oil and gas exploration company, reported Friday that it has received from Australian Securities Exchange Ltd. (ASX) a copy of the Bidder's Statement in relation to an on-market takeover bid by Zeta Energy Pte Ltd. (Zeta Energy) for all the full paid ordinary shares in Pan Pacific at an offer price of $0.0384 (AUD 0.05) per share (the Offer).
The Board of Pan Pacific will meet to consider Zeta Energy's Offer in detail.
Pan Pacific shareholders are advised to take no action in response to the Offer until the Board of Pan Pacific has had an opportunity to consider the Offer and provide its formal recommendation.
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