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Listed solar power company SunSeeker Energy says it is the subject of a takeover offer by SunSeeker Energy UK.
The UK company is seeking a three-month option to buy the assets of SunSeeker Energy Australasia. It planned to pay one share in the UK company for every SunSeeker NZ share, and pay $500,000 in cash.
New Zealand directors did not oppose the plan, which valued the assets well above $2 per share, but said it had to gain shareholder approval and meet other conditions. SunSeeker shares last traded in November at $1.02.
The UK company will buy the rights to SunSeeker intellectual property in Australia, New Zealand, Norfolk and Lord Howe Islands. It will also buy the Australian subsidiary.
- NZPA
