Beach Energy Limited (
Beach advised on 21 May 2012 that, in the absence of a higher offer, it will accept the off-market takeover offer by Cooper Energy Limited (
The board of Beach has decided to accept the shares and cash option for its 55.44% relevant interest in Somerton. Under this option, Cooper is offering one Cooper share for every 4.73 Somerton shares plus 9 cents cash for each Somerton share.
As a consequence of accepting the shares and cash option, Beach will receive approximately 17 million shares in Cooper and $7.2 million in cash.
About Beach Energy Limited
Beach Energy Limited (ASX:BPT) is a long established oil and gas Exploration and Production Company, based in Adelaide, South Australia.
Contact
Beach Energy LimitedT: +61-8-8338-2833
F: +61-8-8338-2336
WWW: www.beachenergy.com.au
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