Neon Energy and MEO Australia announce proposed merger of equals Investor presentation 5 November 2014
Transaction overview 1 All scrip merger of equals between Neon Energy (Neon) and MEO Australia (MEO) Following implementation, Neon shareholders and MEO shareholders to each hold 50% of the Merged Group MEO shareholders to receive…
Shareholder benefits Strong financial The Merged Group will be in a strong financial position with a pro forma net cash balance of A37.0 million1 position to pursue attractive opportunities MEO's value realisation initiative in relation…
The Neon Board considers the Merger to be superior to Evoworld's proportional takeover offer to Neon Shareholders The Neon Board considers: Evoworld offer Proposed Merger Is proportional, for 30% of Neon shares not owned or Allows Neon…
Merged Group asset overview Diversified portfolio of E&P assets Scale will allow the Merged Significant pipeline of new Material working interests strong financial position to progress Group to add to the existing business opportunities…
Immediate priorities of the Merged Group Take advantage of the Merged Group's The Merged Group will be in a strong financial position with a pro forma net cash 1 strong cash position balance of approximately A37.0 million1 This strong…
Strong comparative net cash position Net cash position and market capitalisation of ASX listed E&P companies A30 A100 million market capitalisation 80 81 81 83 76 68 65 61 52 51 41 43 39 37 39 38 37 32 32 31 25 17 19 15 12…
Board and management The leadership team of the Merged Group will reflect the nature of the transaction as a merger of equals The Board of the Merged Group will comprise two current directors from Neon and two current directors from…
Key conditions of the Merger Key terms Neon and MEO have entered into a Merger Implementation Agreement, which contains conditions including: receipt of regulatory and court approvals; MEO shareholder approval of the Merger (by at…
Indicative timetable Event Date Announcement of the Merger 5 November 2014 Cut-off date for proxies in relation to Evoworld's proportional 2:00pm (WST) takeover over 10 November 2014 Cut-off date for proxies in relation to Evoworld's…
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