Takeovers Panel requests clarification on NZOG offer

Tue, 29 Oct 2019

New Zealand Oil & Gas has clarified two items in its proposed scheme of arrangement with major shareholder Ofer Global after intervention by the Takeovers Panel.The panel, responding to several complaints by investors, didn’t consider comments on the proposal by the company’s advisors, or its independent directors, were misleading or deceptive.But it did request clarification from the company on two matters: an estimated 5 percent chance of the Ironbark prospect off north-west Australia being commercially developed, and a comment from Rosal...

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