News: WGO Strike Energy Updates On Off-Market Takeover Bid To Acquire All Of Shares In Warrego...

Jan 6 (Reuters) - Strike Energy Ltd (STX) :

• UPDATES ON OFF-MARKET TAKEOVER BID TO ACQUIRE ALL OF SHARES IN WARREGO ENERGY LIMITED
• NOTES HANCOCK ENERGY’S PROPOSAL TO INCREASE OFFER FROM A$0.28 CASH PER WARREGO SHARE TO A$0.36 CASH PER WARREGO SHARE
• WARREGO SHAREHOLDERS SHOULD NOTE THAT HANCOCK HAS NOT YET ACTUALLY INCREASED ITS OFFER PRICE
• HANCOCK'SOFFER PLACES TERMINAL VALUE ON WARREGO WHILE CO'S OFFER ALLOWS FOR WGO SHAREHOLDERS TO PARTICIPATE IN FUTURE POTENTIAL UPSIDE
• STRIKE'S OFFER IS NOT SUBJECT TO MINIMUM ACCEPTANCE CONDITION & IS SUBJECT ONLY TO PRESCRIBED OCCURRENCES CONDITIONS
• AS AT 5 JAN, STRIKE'S OFFER IMPLIES VALUE FOR WARREGO AT A$459 MILLION, OR A$0.3750 PER WARREGO SHARE, BASED ON STRIKE’S CLOSING PRICE