PLE
23/10/2015 16:25
GENERAL
PRICE SENSITIVE
REL: 1625 HRS Pulse Energy Limited
GENERAL: PLE: NZX- PLE Buller Electricity Update
Pulse Energy Limited (NZAX: PLE) announces that it has been advised today by
Buller Electricity Limited (BEL) that BEL has determined to discontinue the
process of seeking lock-up agreements from Pulse security holders in respect
of BEL's forthcoming takeover offer.
BEL has also advised that it will not enforce any lock-up agreements which it
has previously received from any Pulse security holder. BEL has advised Pulse
that on further consideration BEL believes that all security holders should
have the opportunity to review the independent adviser's report prior to
making any decision whether to accept BEL's takeover offer. BEL has advised
that the pricing of the offer will be as previously advised by it to Pulse
(as announced to the market on 5 October 2015) and that BEL anticipates
sending the takeover notice next week.
Pulse notes that BEL would have up to 30 days after the takeover notice to
make its offer and, further, that it is not legally obliged to proceed with
an offer - even if it gives a takeover notice. Accordingly, Pulse recommends
that shareholders considering dealing in Pulse's securities prior to any
offer being made should seek their own independent professional advice.
Trevor Janes
Deputy Chairman and Chairman of the Independent Committee
Pulse Energy Limited
End CA:00272277 For:PLE Type:GENERAL Time:2015-10-23 16:25:31
