10 September 2014
IGas Energy plc ("IGas" or "the Company")
Approval of Scheme of Arrangement by shareholders of Dart Energy Limited ("Dart")
The Board of IGas welcomes the announcement today by Dart regarding the proposed recommended acquisition of Dart by IGas by way of Scheme of Arrangement ("Scheme"). Dart announced that at the Dart Scheme meeting held earlier today ("Scheme Meeting") the requisite majorities of Dart shareholders present and voting approved the Scheme.
The only remaining conditions under the SPA and scheme are: the approval of the UK Competition and Markets Authority ("CMA"), NSW Ministerial approval for a change in control in Dart's NSW licences and the approval of the Supreme Court of Queensland ("Court"). Consent has already been obtained from the UK Department of Energy and Climate Change. The remaining conditions can be waived by IGas and Dart. In the event that they are not waived / not satisfied by the time of the court meeting that is scheduled on Monday 15 September 2014, Dart will seek an adjournment of the Court hearing to a later date.
Receipt of the CMA approval or NSW Ministerial approval, any decision by IGas and/or Dart to waive a condition of the Scheme or any adjournment of the Court hearing will be announced at the relevant time.
Closing of the proposed acquisition remains scheduled for 1 October 2014.
- Ends -
For further information please contact:
IGas Energy plc |
Tel: +44 (0)20 7993 9899 |
Andrew Austin, Chief Executive Officer Stephen Bowler, Chief Financial Officer Ann-marie Wilkinson, Head of Communications |
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Jefferies International Limited |
Tel: +44 (0)20 7029 8000 |
Sara Hale Graham Hertrich Canaccord Genuity Tim Redfern |
Tel: +44 (0)20 7523 8000 |
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MHP
Rupert Trefgarne Tel: +44 (0)20 3128 8100
