After announcing a trading halt yesterday, Calima Energy has announced the final settlement of its Blackspur sale to Astara Energy for a cash consideration of A$ 81.6 million (~C$72 million).
Commenting on the sale, Calima’s Chairman Glenn Whiddon said: “Despite the current shift by investors away from junior energy companies in Australia and the great work undertaken by the Calima and Blackspur team, it was difficult to achieve an appropriate valuation on the ASX. The sale of Astara represented an 80% premium to the share pre-announcement, underscoring the quality of the business.”
To access the company’s full press release, which includes additional detail on the company’s future plans, click here.