Anzon Energy and Nexus Intended Merger Meets Popular Approval
On January 23, 2008 Anzon Energy Limited and Nexus Energy Limited announced their intention to merge by way of Scheme of Arrangement.
The Federal Court of Australia has ordered the convening of a meeting of shareholders of Anzon Energy to enable a vote to be taken on the proposed merger. The scheme meeting will be held at 12 noon (AEST) on April 18, 2008 at Deacons, Level 18, Grosvenor Place, 225 George Street, Sydney Australia.
Deloitte Corporate Finance Pty Ltd., who were commissioned by Anzon Energy to prepare an independent expert's report on the merger, have concluded that the merger is fair and reasonable and therefore in the best interests of Anzon Energy shareholders.
The boards of each of Nexus and Anzon Energy have unanimously agreed to pursue the merger. The Anzon Energy board has unanimously recommended that Anzon Energy shareholders vote in favor of the resolution to approve the merger at the scheme meeting in the absence of a superior proposal.
Full details of the merger, including how to vote on the resolution and a full copy of the independent expert's report, are included in the Scheme Booklet and Notice of Meeting which will be posted to all Anzon Energy shareholders in the coming week. The Scheme Booklet and Notice of Meeting will be announced to AIM and will be available on both the Nexus and Anzon Energy websites by mid next week.
Anzon Energy notes that the Federal Court of Australia yesterday ordered the convening of a meeting of shareholders of Anzon Australia Limited, in which Anzon Energy holds a 53.1% interest. Anzon Australia shareholders will be asked to vote on a resolution to approve the merger with Nexus at a shareholder meeting to be held after the Scheme Meeting at 2 pm (AEST) on 18 April 2008.
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