Neon Energy Recommends Shareholders to Ignore Evoworld's Takeover Bid
Australia's Neon Energy Limited referred Friday to the announcement on Sept. 10 disclosing the receipt of a notice from Evoworld Corporation Pty Ltd (Evoworld) and associates requesting that the Directors of Neon Energy convene a general meeting under section 249D of the Corporations Act to consider replacing the Board with nominees of Evoworld and its associates.
Neon Energy has today written to Evoworld and its associates to notify them that it has determined, following receipt of legal advice, that the purported request does not comply with the requirements of the Corporations Act as it was not signed by registered members of Neon Energy holding the required number of votes in accordance with sections 249D(1) and (4) of the Act.
Accordingly, Neon Energy will not take any further action in respect of the notice.
Neon Energy’s Board continues to recommend that shareholders TAKE NO ACTION in response to Evoworld’s proportional takeover bid at this time.
Neon Energy will keep shareholders informed of all material developments.
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