Voyager Energy & ARC Energy Plan Merger

ARC Energy and Voyager Energy have each unanimously resolved to pursue a merger of the companies by Schemes of Arrangement. The Merger will require the approval of Voyager shareholders as well as the Court. The board of Voyager has unanimously recommended that Voyager shareholders and listed optionholders vote in favor of the Merger, subject to no superior offer being made for Voyager's Securities.

The Merger represents an opportunity for both ARC and Voyager to realize value by:

  • combining two highly complementary portfolios at fair value;
  • creating a strengthened and highly strategic position in both the onshore and offshore Perth Basin;
  • participation in an aggressive drilling program across the onshore and offshore Perth Basin; and
  • an enhanced exploration and production portfolio footprint in the Perth Basin.

Terms of the Merger

The implementation of the Merger will result in:

  • Voyager shareholders receiving 1 ARC share for every 6 Voyager shares; and
  • Voyager listed optionholders receiving 1 ARC share for every 15 Voyager listed options.

Voyager's unlisted options will be cancelled and paid out in cash.

The Merger requires the approval of Voyager shareholders as well as Court approval. Holders of listed options will also be required to vote on the terms of the Scheme as it relates to their listed options.


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