Votes must be lodged before 10:30am (AEST) on Saturday, 3 June 2017
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Scheme ConsiderationIf the scheme is approved and becomes effective, eligible Central Shareholders will receive the Scheme Consideration comprising:
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Upfront cash consideration of 20 cents (which is close to the top-end of the Independent Expert’s assessed the value of 20.5 cents per Central Share, on a controlling interest basis); and-
One Contingent Value Note for each Scheme share they hold.
Summary of Reasons to Vote for the Scheme
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Director’s recommendation and intentions
Scheme consideration at a premium and in the best interests of Central Shareholders
Central Shareholders retain some upside
No superior offer after extensive process
Remove risk of gas market window closing before Central develops the capacity to supply
Structural shift in international oil and gas prices
Offer is fully priced, based on Santos’ sale of 50% interest in Mereenie
Risks and lower share price if the Scheme does not become Effective.
Summary of Reasons to Vote against the Scheme
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Disagree with Directors and Independent Expert
Maintain your investment profile
You may consider that there is potential for a Superior Proposal for Central to be made in the foreseeable future
You may prefer to participate in the future financial performance of the Central business.
The Scheme Booklet sets out important information regarding the Scheme and Shareholders should read it carefully and in its entirety before casting their voteFor further information please refer to the Scheme Booklet at https://www.centralpetroleumscheme.com.au/offer/For enquiries call Mon-Fri, 8:30am-5:00pm (AEST):
What Central petroleum are saying now, is that before they can produce maximum gas supply, the "window" will close and gas price drops or over abundant, so have to sell off.
Why is Macquarie Bank positioning itself to capitalise on gas sales and Cottee allowing such a deal ?
Oh, that's right, continuing employment, 8000 share holders shoved out the door, so less to share the CTP benefits with when NGP operating.
A lot of rubbish in CTP/Investor Vote info.
"in the absence of a Superior Proposal", ... I would suggest by keeping CTP on the asx, getting rid of MB, getting rid of the impediments now, ie, Cottee and the Board, installing appropriate replacements at a remuneration that enables the company to get through the next phase, working through debt obligations, positioning the company ready for the NGP and a positive CR for share holders for more drilling, .... that to me is a far more SUPERIOR PROPOSAL, and one with hope and enthusiasm for what should have been an exploration company, .... which it has not been since June 2012.
No more comedic presentations or BS from the mouth.
CTP Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
Votes must be lodged before 10:30am (AEST) on Saturday, 3 June 2017(outside Australia) +61 3 9415 4278Or visit: www.centralpetroleumscheme.com.au
