News: GNX Genex Power Entered Binding Transaction Implementation Deed With Electric Power...

April 12 (Reuters) - Genex Power Ltd (GNX) :

• ENTERED INTO BINDING TRANSACTION IMPLEMENTATION DEED WITH ELECTRIC POWER DEVELOPMENT
• IN DEAL, J-POWER ACQUIRE ALL OF ORDINARY SHARES IN GENEX THAT J-POWER AND EXCLUDED GENEX SHAREHOLDERS DO NOT ALREADY OWN
• GENEX BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE IN FAVOUR OF SCHEME
• IN DEAL, J-POWER TO MAKE SIMULTANEOUS OFF-MARKET TAKEOVER OFFER FOR ALL OF GENEX SHARES FOR A$0.270 IN CASH PER GENEX SHARE
• IMPLIED ENTERPRISE VALUES BASED ON SCHEME CONSIDERATION OF A$0.275 PER GENEX SHARE, TAKEOVER CONSIDERATION OF A$0.270 PER GENEX SHARE

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