News: AJQ Armour Energy Announces Receipt Of Non-Binding Proposal To Acquire Armour

Aug 16 (Reuters) - Armour Energy Ltd (AJQ) :

• RECEIPT OF NON-BINDING PROPOSAL TO ACQUIRE ARMOUR
• RECEIVED AN INDICATIVE, NON-BINDING, CONFIDENTIAL AND CONDITIONAL EXPRESSION OF INTEREST FROM SHUNKANG HOLDING GROUP
• PROPOSAL FOR A POTENTIAL ACQUISITION OF 100% OF FULLY DILUTED SHARE CAPITAL OF COMPANY
• EXPRESSION OF INTERES STATES THAT INDICATIVE ACQUISITION PRICE IS A$0.13 TO A$0.15 CASH PER ARMOUR SHARE
• SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION IN RELATION TO EXPRESSION OF INTEREST
• NOTES CURRENT PROPOSAL IS AT A PRICE SIGNIFICANTLY BELOW LEVEL OF RECENT CAPITAL RAISINGS
• NOTES THAT THERE IS NO CERTAINTY THAT EXPRESSION OF INTEREST WILL RESULT IN ANY POTENTIAL OFFER FOR ARMOUR SHARES