Armour Energy recommends takeover offer

Company News

Armour Energy Limited (ASX:AJQ) directors have unanimously recommended that shareholders accept a revised takeover offer by WestSide Corporation Limited.
 
The company announced its recommendation to accept WestSide’s revised offer of $0.20 cash per Armour Energy share for all of the fully paid ordinary shares in Armour Energy. The offer was previously $0.12 cash.
 
The revised offer values Armour Energy at approximately $60.9 million.
 
The directors of Armour Energy said that subject to no superior proposal emerging, the revised offer is WestSide’s best and final offer. 
 
Armour Energy recorded a net loss of $6.57 million at 30 June 2015.

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