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Energy Developments Provides Corporate Activity Update
Tuesday September 8, 2009, 9:58 am

Original Announcement: ENE Corporate Activity Update

Energy Developments provided a corporate activity update, referring to its release on 25 August where it disclosed that it was in discussions with a party in relation to a potential transaction for 100% of ENE. The Company confirms that this party, which is a private equity fund, has provided a proposal to acquire 100% of ENE on a fully diluted basis at an indicative price of $2.80 per ENE share. The Proposal is non-binding, conditional and incomplete. The Company has invited this party into an exclusive confirmatory due diligence process, which is due to commence shortly. The Company also reported on its UK/France Offer; and the financial outlook and Australian regulatory developments.

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