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In-Specie Distribution of BYE Shares - Update

28 October 2019

IN SPECIE DISTRIBUTION OF BYRON ENERGY SHARES TO METGASCO SHAREHOLDERS UPDATE

Metgasco Ltd (ASX:MEL) (Metgasco or the Company) notes that further to the Company’s announcement (In-Specie Distribution of BYE Shares) made on 1 October 2019, the Company is continuing to obtain tax and legal advice on the proposed in-specie distribution of 30 million Byron Energy (BYE) shares to its shareholders.

The Board of Metgasco is committed to expeditiously completing this distribution to shareholders.

Necessary ASX approvals are currently being obtained and an appropriate ATO private ruling process has been commenced with the Company’s external tax advisors. An Independent Expert Report will also be commissioned for inclusion in the notice for the General Meeting, which is expected to be issued in the next 2-3 weeks.

As previously announced, the Company proposed to put a resolution to shareholders at its upcoming 2019 Annual General Meeting, however in order to provide time to conclude the items noted above it is now proposed that the Company will put the resolution to shareholders at a General Meeting in mid December.

ENDS

 

For more information contact: 

Philip Amery, Chairman

Phone: +61 02 9923 9100

CONTACT US

North Sydney Office
Level 3, 2 Elizabeth Plaza
North Sydney NSW 2060

Tel: +61 2 9923 9100
Fax: +61 2 9959 5387

Metgasco Ltd  ACN 088 196 383