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Stanmore Coal receives non-binding indicative proposal

Published by , Assistant Editor
World Coal,

The Board of Stanmore Coal Ltd has received an unsolicited, non-binding, indicative proposal which may, subject to satisfactory due diligence and securing of finance, result in an off-market takeover offer to acquire 100% of the company’s shares for an indicative price of between AUS$1.50 – AUS$1.70 per share in cash (Indicative Proposal), from Winfield Group Investments Pty Ltd (Winfield Energy).

The Board has engaged with Winfield Energy to finalise a Process Deed to facilitate the conduct of due diligence by Winfield Energy and its debt and equity financiers and, subject to satisfactory completion of that due diligence, negotiation by the parties of a bid implementation agreement.

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