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  • Xceed Resources Receives Cash Offer From Keaton Energy 0 comments
    Aug 25, 2013 9:02 PM

    Xceed Resources has received a cash offer of $0.14 per share from Keaton Energy Holdings (JSE: KEH) which follows an unsolicited approach made by Keaton which owns and operates the neighbouring Vanggatfontein colliery in South Africa.

    The offer compares to a last sale price of $0.11 for Xceed.

    The offer follows the successful completion of a technical and financial due diligence by Keaton, as well as Keaton's securing of funding facilities.

    The takeover will be implemented by way of a Scheme of Arrangement between Xceed and its shareholders under the Australian Corporations Act 2001.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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