Ast10 Aug 2018 09:42
The strategic review has resulted in the Company holding discussions with a range of interested parties and to consider various types of transaction: a farm-in, a partnership, a takeover or a sale. A number of interested companies have signed non-disclosure agreements and gained access to the data room. There is a large amount of data in the data room, both technical and legal, which takes time for companies to review and decide on any potential offers.
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The Company understands that shareholders are interested to know how the strategic review is progressing. For strategic reasons the Company is unable to divulge details of all the ongoing negotiations, but the Board is pleased with the progress of the strategic review to date and discussions are ongoing with a number of different parties. There can be no certainty that any of these will result in a completed transaction nor can the nature of any such transaction be determined at this stage.Â
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The Company has not set a formal deadline to end this process; however the Board are working to bring matters to a satisfactory conclusion as soon as is practical. Should the strategic review result in a transaction, an EGM will likely be required for shareholders to vote on it.