BG Group Kicks Off Compulsory Acquisition of Pure Energy
BG Group announced that its wholly-owned subsidiary, BG International (AUS) Pty Limited, now has a relevant interest in approximately 96.68% of the ordinary share capital of Pure Energy Resources Limited under its recommended A$8.25 takeover offer.
BG Group will now proceed to compulsory acquisition of all the remaining Pure shares.
BG Group's Offer is scheduled to close at 7.00 pm (Sydney time) on Monday, April 6, 2009 and will not be extended beyond that date.
Pure shareholders who validly accept BG Group's Offer will have their payment of A$8.25 per share despatched within 5 business days of the receipt by BG Group of a valid acceptance.
Pure shareholders who do not accept BG Group's Offer before it closes will have their shares compulsorily acquired. In accordance with time periods specified under the Corporations Act, compulsory acquisition will involve a delay in payment to Pure shareholders of approximately six weeks.
BG Group encourages all Pure shareholders that have not yet done so to accept BG Group's Offer immediately to avoid compulsory acquisition and delayed payment.
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