SES to Acquire Australian Future Energy;Offers to Purchase Shares in Batchfire

摘要

Houston-Synthesis Energy Systems(SES),a co-founder and 35% shareholder in Australian Future Energy(AFE),has signed a definitive merger agreement to acquire 100% of AFE,making AFE a wholly-owned subsidiary of SES.The transaction,valued at around $36-million,is expected to close in the first quarter of 2020.In connection with the entry into the merger agreement,SES has also offered to purchase 100% of the issued capital of Batchfire Resources,owner of the Callide Thermal Coal Mine in Queensland,Australia,via the issuance and exchange of one share of SES common stock for each ten ordinary shares of Batchfire.SES will also acquire the Gladstone Energy and Ammonia Project planned in Queensland,as well as the Cape River Resources’West Pentland coal resource.