Genex Power Ltd. (AU:GNX) has released an update.
JPGA Partners Pty Ltd, a subsidiary of Electric Power Development Co., Ltd. (J-POWER), is making an off-market takeover bid for all the ordinary shares of Genex Power Limited that it doesn’t already own. As of June 28, 2024, J-POWER has increased its stake to 12.55% of Genex shares, including acceptances and instructions under the Institutional Acceptance Facility. The takeover offer is contingent on achieving a minimum 40% ownership and is subject to certain conditions outlined in the Transaction Booklet.
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