Armour Energy
(ASX:AJQ) has addressed media speculation regarding its acceptance of the Westside revised offer.
The board of Armour Energy led by Chairman Nick Mather voted to accept the deal on Thursday night. Mather is also the CEO of DGR Global which owns around 24.6 per cent of Armour Energy stock.
An online news article indicated DGR Global would sell its stake in Armour to Westside helping the Chinese company within striking distance of minimum acceptance.
Directors at DGR Global say they have made no recommendations of the sort and the statements should be ignored.
Armour Energy reported a net loss of $6.58 million for the 2015 financial year.
