Korean Foreign Exchange Approval Received for Proposed Scheme

Source: www.gulfoilandgas.com 2/3/2022, Location: Not categorized

Senex Energy Limited wishes to advise that POSCO INTERNATIONAL Corporation (“PIC”) has received approval under Article 18 of the Republic of Korea's Foreign Exchange Transaction Act (“Foreign Exchange Condition”).

Receipt of the Foreign Exchange Condition satisfies the condition precedent in clause 3.1(b) of the scheme implementation agreement between Senex and PIC ("SIA"), a copy of which was released to the ASX on 13 December 2021.

The implementation of the Scheme remains subject to certain other conditions, as outlined in section 3.1 of the SIA.


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