Singapore (Head Office)
T+65 6508 9840 F+65 6294 6904
152 Beach Road, #19-03/04 The Gateway East
Singapore 189721
Brisbane (Registered Office)
T+61 7 3149 2100 F+61 7 3149 2101
Level 9, Waterfront Place, 1 Eagle Street,
Brisbane Qld 4000, Australia
GPO Box 3120, Brisbane Qld 4001,
Australia
dartgas.comASX CODE DTEABN 21 122 588 505
24 September 2014 Supreme Court adjourns hearing on scheme of arrangement
Dart Energy Limited ("Dart") refers to the proposed acquisition by IGas Energy plc ("IGas") of Dart, under a scheme of arrangement between Dart and its shareholders ("Scheme").
Dart today obtained a short adjournment of the hearing of the Supreme Court of Queensland for Dart to seek approval of the Scheme to 10am on Tuesday 30 September 2014. The adjournment was sought to provide additional time for the satisfaction or waiver of the outstanding condition to the Scheme requiring the approval of the UK Competition and Markets Authority ("the CMA") to the transaction ("the CMA Condition").
Dart has been informed by IGas that the CMA is required to make a final decision by 20 October
2014. However, following recent dialogue with the CMA, both IGas and Dart expect to be in a position before the adjourned Court hearing to decide whether to waive the CMA Condition.
If the CMA Condition is waived by IGas and Dart and if the Court then approves the Scheme on Tuesday 30 September 2014, an indicative timetable for implementation of the Scheme is as follows:
Event | Indicative date |
Effective Date (Dart Shares suspended on ASX from close of trade) | Wednesday 1 October 2014 |
Latest time and date for receipt of completed Small Shareholder Election Form or online election to participate in the Small Shareholder Sale Facility | 5.00pm on Thursday 9 October 2014 |
Record Date for determining eligibility to participate in the Scheme | 7.00pm on Thursday 9 October 2014 |
Implementation Date (New IGas Shares issued and IGas acquires all Dart shares) | Thursday 16 October 2014 |
New IGas Shares admitted to trading on AIM | Friday 17 October 2014 |
Dart will announce to ASX at the relevant time:
• any satisfaction or waiver of the CMA Condition; and
• any update to the indicative timetable for implementation of the Scheme.
dartgas.com
For and on behalf of the Board
Paul Marshall, Company Secretary
John McGoldrick | Chief Executive Officer | Tel: | +65 6508 9844 |
Eytan Uliel Media enquiries contact: | Chief Financial Officer | Tel: | +44 7500 534466 |
Peter Reilly | Vigo Communications | Tel: | +44 207 016 9571 |
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