Indicative proposal - Due Diligence Update on LNG Limited (ASX:LNG)
Sydney, June 4, 2012 AEST (ABN Newswire) - WestSide Corporation Limited (
ASX:WCL) advises that due diligence investigations are continuing in relation to the indicative and conditional acquisition proposal received from Liquefied Natural Gas Limited ("LNG Limited") (ASX:LNG) in February 2012.
On 13 February 2012, WestSide announced that a Potential Acquirer (later identified as LNG Limited) had been granted due diligence access on a non-exclusive basis to progress its acquisition proposal.
Parties associated with LNG Limited continue to be active in their due diligence investigations. It remains uncertain whether the due diligence review will result in the submission of a binding acquisition proposal to the WestSide Board.
The Board remains committed to considering a full range of options to maximise value for shareholders while management remains focused on increasing reserves and production.
WestSide does not intend to provide ongoing market updates, but will keep the market informed of any material developments in accordance with its disclosure obligations.
Contact
WestSide Corporation Limited
T: +61-7-3020-0900
F: +61-7-3020-0999
WWW: www.westsidecorporation.com
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