Genex Power Ltd. (AU:GNX) has released an update.
JPGA Partners Pty Ltd, through its J-POWER Nominee subsidiary, has proposed an off-market takeover bid for all ordinary shares of Genex Power Limited that it does not already own. The offer, detailed in a Transaction Booklet provided to ASX on June 6, 2024, includes a scheme of arrangement and takeover conditions that J-POWER Nominee must meet or waive to proceed. J-POWER’s current relevant interest in Genex shares has increased to 8.95%, and the takeover is subject to meeting a minimum acceptance threshold and other conditions as outlined in the Transaction Booklet.
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