Media Centre
Uecomm Announcement Regarding Possible Shareholder Changes
Uecomm Limited was notified today by it’s major shareholder, United Energy Limited (UEL), that an agreement has been reached with AlintaGas Limited, AMP Henderson Global Investors Limited and Power Partnership Pty Limited (PPL) to pursue a proposal for UEL to be acquired by PPL, an unlisted Australian company.
If the proposal is approved by UEL shareholders and the Supreme Court of Victoria, and if certain other conditions are satisfied, UEL will become a wholly owned subsidiary of PPL. Uecomm has been informed by UEL that PPL intends to transfer its shareholding in Uecomm to AlintaGas.
The Board of Directors of Uecomm is currently considering the detail of the announcements made by UEL and AlintaGas earlier today in relation to the proposal. Once this information has been considered, a further announcement will be made by Uecomm commenting on the proposal as it relates to the interests of Uecomm shareholders.
