ORG 0.39% $10.38 origin energy limited

ORG Judgement Day, page-12

  1. 348 Posts.
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    This may help. From the ORG announcement to the market back in Nov.


    "Considering all the relevant factors, Origin has entered into a confidentiality and exclusivity agreement with the Consortium. Under the terms of the agreement, either party can terminate the exclusivity provisions after five weeks and four days with one week’s notice. The Board intends to grant the Consortium the opportunity to conduct due diligence to enable it to put forward a binding proposal. Due diligence is expected to complete within eight weeks. Should Origin receive any proposals which the Board considers may lead to a superior outcome for Origin shareholders, these will be evaluated in accordance with the exclusivity provisions as summarised in Appendix A and the Board’s fiduciary obligations.

    Based on current information and market conditions, if the Consortium makes a binding offer

    1at $9.00 cash per share , then it is the current intention of the Origin Board to unanimously

    recommend that shareholders vote in favour of the proposal, in the absence of a superior proposal. This is subject to the parties entering into a binding scheme implementation agreement on terms acceptable to Origin. It is also subject to an independent expert concluding (and continuing to conclude) that the proposed transaction is fair and reasonable and in the best interests of Origin shareholders."


 
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