Mitsui is about to make an offer of A$0.95 cash per share for all of the issued shares of AWE, which was announced on 5 February 2018. Mitsui currently has an interest in 3.01% of AWE’s shares.
Mitsui will declare the offer unconditional if it acquires an interest in AWE shares of at least 50.1%, on 14 March 2018. Mitsui’s offer is currently the only offer available to AWE shareholders for their shares.
The AWE Board in its Target Statement repeated its recommendation that AWE shareholders should accept the offer.
The company said in a statement:
Mitsui encourages all shareholders to accept the offer today but recognises that some investors in AWE may be unable or unwilling to accept the Offer until the Offer becomes or is declared unconditional. Mitsui has therefore established an institutional acceptance facility to provide Eligible Shareholders with the ability to register their support for the Offer and their intention to accept the Offer before the Offer becomes or is declared unconditional.