News: GNX Genex Power Confirms Revised Non-Binding, Indicative Proposal

Aug 17 (Reuters) - Genex Power Ltd (GNX) :

• RECEIPT OF REVISED NON-BINDING, INDICATIVE PROPOSAL
• REVISED CONDITIONAL, NON-BINDING, INDICATIVE PROPOSAL FROM CONSORTIUM TO ACQUIRE ALL OF GENEX SHARES ON ISSUE FOR A$0.250
• BOARD CONSIDERS THAT IT IS IN INTERESTS OF GENEX SHAREHOLDERS AS A WHOLE TO ENGAGE FURTHER WITH CONSORTIUM
• TO PROVIDE CONSORTIUM WITH OPPORTUNITY TO CONDUCT CONFIRMATORY DUE DILIGENCE
• GENEX NOTES NO CERTAINTY THAT PROVISION OF DUE DILIGENCE WILL RESULT IN CONSORTIUM PROVIDING A BINDING PROPOSAL
• IT IS BOARD'S CURRENT INTENTION TO UNANIMOUSLY RECOMMEND SHAREHOLDERS VOTE IN FAVOUR OF PROPOSED SCHEME