News: GNX Genex Power Ltd Responds To Non-Binding Indicative Proposal

Aug 1 (Reuters) - Genex Power Ltd (GNX) :

• RESPONSE TO NON-BINDING INDICATIVE PROPOSAL
• RECEIVED CONDITIONAL, NON-BINDING, INDICATIVE PROPOSAL FROM SKIP ESSENTIAL INFRASTRUCTURE FUND 1 AND STONEPEAK PARTNERS LLC2
• HAS UNANIMOUSLY CONCLUDED THAT INDICATIVE PROPOSAL UNDERVALUES GENEX
• INDICATIVE PROPOSAL IS NOT IN BEST INTERESTS OF HOLDERS OF GENEX SHARES AS A WHOLE
• NOTES THERE IS NO CERTAINTY PROVISION OF LIMITED DUE DILIGENCE INFORMATION TO CONSORTIUM (IF IT OCCURS) WILL RESULT IN CONSORTIUM PROVIDING REVISED PROPOSAL
• WILLING TO ENGAGE WITH CONSORTIUM TO EXPLORE WHETHER CONSORTIUM CAN SUBMIT A REVISED PROPOSAL
• ADVISED CONSORTIUM IT IS PREPARED TO PROVIDE CERTAIN LIMITED DUE DILIGENCE INFORMATION ON A NON-EXCLUSIVE BASIS FOR A REVISED PROPORSAL
• NOT PREPARED TO GRANT ACCESS TO DUE DILIGENCE REQUESTED BY CONSORTIUM ON BASIS OF INDICATIVE PROPOSAL.