Australia:

Geodynamics Takeover Offer for KUTh Energy Ltd (Proactive Investors Australia)

Geodynamics Limited, based in Milton, Queensland, and KUTh Energy Limited of Sydney, New South Wales, have entered into a binding Takeover Bid Implementation Agreement (TBIA) under which Geodynamics will make an off-market takeover bid (Offer) to acquire all of the issued ordinary shares in KUTh.

The deal would deliver Geodynamics a portfolio of geothermal energy projects and prospects held by KUTh Energy in the Pacific Islands.

This market is also a key focus of Geodynamics where it is actively pursuing the Savo Island Geothermal Power Project located in Solomon Islands.

The offer is one Geodynamics Share for every 5.5 KUTh Shares (subject to rounding), representing a 31.6% premium based on the 30-day VWAPs (volume weighted average prices) of Geodynamics and KUTh shares as at 17 September 2013.

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