Beach Ups Interest in Adelaide Energy (Australia)

On 7 November 2011, Beach Energy Ltd announced an unconditional, on-market, cash offer of 20 cents per share for all of the issued and outstanding ordinary shares of Adelaide Energy Limited it did not own.

Beach has now secured its primary goal of majority control of Adelaide Energy and has since lifted its relevant interest in the company to 60.93%.

[mappress]

Source: Beach, November 14, 2011