Horizon Oil Limited (ASX:HZN)

ALERT: Price-sensitive ASX Announcement for HZN

Current share price for HZN : $0.220 0 (0%)⁺

Announcement

Third Supplementary Bidder's Statement

Release

9 Jun 2026 9:31AM

Price at Release

$0.220

Full Release

Summary

The Third Supplementary Bidder's Statement by Horizon Oil Limited, dated 9 June 2026, outlines the company's off-market takeover bid for Cue Energy Resources Limited. Horizon declares the offer consideration, consisting of Horizon Shares and cash, as best and final with no expected increase unless a competing bid is presented. Holding a 52.21% interest in Cue, Horizon plans to close the offer on 19 June 2026. All regulatory conditions have been fulfilled, and Horizon advises Cue shareholders to accept the offer due to the lack of competing proposals. Risks for shareholders not accepting the offer include potential liquidity issues.

Key Points

Horizon Oil Limited has declared its offer consideration for acquiring Cue Energy Resources Limited as best and final.
The offer includes 0.5625 Horizon Shares and A$0.008 cash per Cue Share, with no increase in consideration unless a competing proposal arises.
As of the statement date, Horizon holds a relevant interest in 52.21% of Cue Shares.
The offer period is set to close on 19 June 2026, at 7:00pm Sydney time, unless extended or withdrawn.
All regulatory approval conditions have been satisfied, freeing the offer from further conditions.
Horizon encourages Cue shareholders to accept the offer as no superior proposal has emerged.
Horizon reiterates potential risks to Cue shareholders who do not accept the offer, particularly regarding trading liquidity if compulsory acquisition is not achieved.

IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.