Australia

88 Energy set to move XCD offer to compulsory acquisition

88 Energy Ltd (LON:88E) told investors its offer for XCD Energy has now reached a level that guarantees it will reach the minimum threshold required for compulsory acquisition.

The AIM-quoted Alaska focussed exploration firm said that as a result the offer period will not be extended beyond July 13, at 7:00pm (Sydney).

READ: 88 Energy agrees takeover of XCD Energy


“Those that wish to benefit from the 7 day accelerated payment terms should accept into the offer immediately or risk a delay of up to approximately 50 days to receive the consideration shares under the compulsory acquisition timetable,” 88 Energy said in a statement.

In May, 88 Energy said the combination withRead More – Source