In today’s briefing:
- Golden Energy (GER SP): Long-Stop Date Extended as the Offer Looks Increasingly Light
Golden Energy (GER SP): Long-Stop Date Extended as the Offer Looks Increasingly Light
- The long-stop date for the satisfaction of the offer conditions has been extended from 9 April to 9 August, to help Dian Swastatika Sentosa (DSSA IJ) obtain shareholder approval.
- An alternative explanation is that the Widjaja family’s offer for Golden Energy & Resources (GER SP) is increasingly looking unattractive in light of Stanmore Coal (SMR AU)’s share price rally.
- The offer remains light and we think that there is a good chance that the Widjaja family will raise its offer (likely a bump to the delisting price) to succeed.
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