K2, Tomahawk agree on merger terms
10:25, Thursday, 29 March 2007
Sydney - Thursday - March 29: (RWE Australian Business News) -
K2 Energy Limited (KTO) and Tomahawk Energy reports that K2 Energy has
completed its legal due diligence on Tomahawk's US oil and gas interests
in relation to the proposed merger with Tomahawk.
Following the completion of the due diligence process it was
agreed by Tomahawk and K2 Energy that the terms of the merger would be
amended as detailed below.
Under the revised merger terms Tomahawk will offer:
6 new Tomahawk fully paid ordinary shares for every 10 fully
paid ordinary shares in K2 Energy; and
1 new Tomahawk option, with an expiry date of 30th September
2009, exercisable at 20 cents for every 2 options currently held in K2
Energy.
THK
unknown
