bid made for viridis clean energy

Link : http://www.businessspectator.com.au/bs.nsf/Article/Bid-made-for-Viridis-Clean-Energy-RAEXD?OpenDocument&src=srch


8:49 PM, 20 Apr 2009

Bid made for Viridis Clean Energy

Source: News Bites


Viridis Investment Management Ltd, as responsible entity of Viridis Clean Energy Group and its manager Viridis Energy Capital Pty Ltd, says it has received an unsolicited indicative, non-binding and confidential proposal to acquire Viridis Clean Energy. The proposal is conditional and incomplete, in particular it is conditional on reaching agreement about an internaliation of Viridis' management arrangements.

Viridis Investment Management says its independent directors have made no decisions about the proposal, but are in discussion with legal and financial advisers. They intend to discuss this further with a third party to asses the merits for the security holders.

It disclosed the offer to the ASX after its share price went from low a of 26.5c on 14 April 2009 to a high of 35.5c on April 16, prompting a query from the ASX. Viridis Clean Energy was in a trading halt from April 16 to April 20.