Australia: Neptune Receives Proposed Takeover Offer

Australia Neptune Receives Proposed Takeover Offer

Neptune Marine Services Limited, received after market yesterday a proposed takeover offer from Blossomvale Investments Pte Ltd (Blossomvale).

Blossomvale is a substantial shareholder of Neptune and a wholly owned subsidiary of MTQ Corporation Limited (MTQ) and its proposal is to acquire all the shares of Neptune it does not own, at a cash price of 3.2 cents per share. MTQ is listed on the Singapore Exchange. The proposed offer is conditional on MTQ shareholder approval and several other conditions.

As Mr Boon Wee Kuah is a director of both NMS and Blossomvale, an independent board committee will be established for the purposes of the proposed offer. This independent committee will meet to consider the proposed offer shortly. At this stage, Neptune shareholders are advised to take NO ACTION until they receive information from the independent committee of Neptune directors. Neptune will keep shareholders informed of developments as they occur.

Press Release, October 30, 2012

Share this article

Follow Subsea World News

Events>

<< Aug 2015 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Africa Oil & Gas Conference

Africa Oil & Gas Conference in September 2015 will be that the countries that will be proven most successful in managing their natural…

read more >

Deepwater Intervention Forum

The conference named as Deepwater Intervention Forum will cover areas like designing to reduce training time, developing competency in well…

read more >

Subsea UK’s Challenge Cup

Swing for victory as you compete with teams from around the sector in Subsea UK’s Challenge Cup. An opportunity for networking and fun. Includes 18 holes of golf with a shotgun start, starting with bacon rolls, refreshments at the half-way house and concluding with a late lunch and the prize-giving.

More info 

read more >

Diploma in Surveying of Offshore Floating Units

This professional development Diploma in Surveying of Offshore Floating Units has been designed to provide the necessary knowledge required…

read more >