Australia's Armour Energy referred Friday to the article entitled “Armour directors review Westside revised proposal” appearing in today's on-line version of the Australian Financial Review in relation to the Takeover Bid from WestSide Corporation Limited for all of the ordinary shares in Armour.
Armour confirms that it is in receipt of an indicative and non‐binding offer to improve the consideration payable under the Offer from Westside to $0.1454 (AUD 0.20) per share. The Board of Armour is in discussion with WestSide and its advisors in respect of the revised Offer.
However, it is important to note that the indicative and non‐binding offer does not at this stage constitute a variation of WestSide's original Offer of $0.0872 (AUD 0.12) per share, and there can be no guarantee that the revised indicative non‐binding offer will result in a formal variation to WestSide's original Offer.
Shareholders are advised to take no action in response to the speculation in the article, pending further updates from the Board of Armour.
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