Implementation of Scheme of Arrangement

Source: www.gulfoilandgas.com 4/1/2022, Location: Not categorized

Senex Energy Limited is pleased to announce that the scheme of arrangement under which it was proposed that K-A Energy 1 Pty Ltd, the subsidiary nominated by POSCO International Corporation, would acquire 100% of the issued shares in Senex (“Scheme”) has been implemented.

In accordance with the terms of the Scheme, eligible Senex Shareholders have today been sent the Scheme Consideration of $4.60 cash in respect of each Senex Share held as at 7:00pm AEDT (Sydney, Melbourne) on Friday, 25 March 2022.

With effect from the implementation of the Scheme:
• each of Ian Davies (Chief Executive Officer and Managing Director), Trevor Bourne (Chairman), Dr Ralph Craven, Margaret Kennedy, Glenda McLoughlin and Dr John Warburton (being all of the directors of Senex prior to implementation of the Scheme) and David Pegg in his capacity as company secretary resigned; and
• each of Jhoon Soo Jho, Choong Sup Byun, Sunghyung Heo, Ian Rutherford Plimer, Stuart Richard Johnston and Tadeusz Jozef Watroba (being nominees of K-A Energy Pty Ltd) were appointed as new directors of Senex.

As previously announced, trading in Senex Shares on the ASX was suspended at the close of trading on Friday, 18 March 2022. Senex intends to apply for its removal from the official list of the ASX with effect from close of trading on Monday, 4 April 2022.

Unless otherwise indicated, capitalised terms used in this announcement have the meaning given to them in the Scheme Booklet dated 7 February 2022.

Senex was advised by Macquarie Capital, Rothschild & Co and Clayton Utz. Vale Chris Forman.

Approved for release by the Senex Board


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