Cue Energy Resources notes the announcement made on 2 March 2026 by Horizon Oil of its intention to make an off-market takeover offer to acquire all fully paid ordinary shares in Cue that Horizon does not already hold a relevant interest in (Horizon Takeover Offer). The Horizon Takeover Offer comprises of a proposed consideration of A$0.008 in cash and 0.5625 fully paid ordinary Horizon shares for each Cue share.
The Cue Board has appointed an Independent Board Committee (IBC), consisting of its current independent directors, Peter Hood AO, Greg Bishop and Ric Malcolm, to evaluate and respond to the Horizon Takeover Offer. The IBC, together with its independent advisers, is currently assessing the proposed offer and will keep shareholders informed as appropriate.
Cue shareholders are advised not to take any action in relation to the Horizon Takeover Offer at this stage.
The Horizon Takeover Offer, when dispatched, is required to remain open for at least one month. The IBC will set out their views in relation to the proposed offer from Horizon in a target's statement, which will be sent to all Cue shareholders. Cue shareholders will receive the target's statement in sufficient time to consider their alternatives and make a decision prior to the close of the offer.
Source: Cue Energy
