Aug 15 (Reuters) - Galilee Energy Ltd (GLL) :
- GALILEE AND VINTAGE AGREE MERGER TERMS TO CREATE STRONGER PLAYER IN EAST COAST GAS
- PROPOSED MERGER TO BE EFFECTED BY VINTAGE ACQUISITION OF 100% OF GALILEE VIA AN ALL-SCRIP DEAL
- 100% SCRIP SCHEME CONSIDERATION IMPLIES A SHARE PRICE OF A$0.02 FOR GALILEE
- COMBINED GROUP TO HAVE EXISTING APPRAISAL GAS PRODUCTION, AMONG OTHERS
- GALILEE BOARD UNANIMOUSLY RECOMMENDS PROPOSAL IN ABSENCE OF A SUPERIOR PROPOSAL
- UPON IMPLEMENTATION , VINTAGE AND GALILEE SHAREHOLDERS WILL HOLD 60.2% AND 39.8% OF MERGED GROUP
(([email protected];))
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