Roc Oil Draws a Second Acquisition Proposal, Denies Cliq Energy is a Bidder
Roc Oil Company Limited (ROC) disclosed Thursday that it has received a second confidential, unsolicited, indicative and incomplete proposal in relation to the acquisition of all the issued share capital of ROC, independent of the indicative and non-binding approach announced June 25.
As required under the merger implementation deed between ROC and Horizon Oil dated April 29, following receipt of the proposal, ROC notified Horizon Oil of the approach.
Shareholders do not need to take any action in response to the proposal. There is no certainty that the proposal will develop into a formal offer to ROC shareholders.
We note the media speculation earlier today regarding the identity of the entity making the approach. It would be inappropriate to comment on the two indicative approaches, however, we can confirm that Cliq Energy is not involved.
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