Cue Energy has acknowledged the announcement made on 2 March 2026 by Horizon Oil Limited regarding its intention to launch an off-market takeover offer for all fully paid ordinary shares in Cue that Horizon does not already hold an interest in.
Under the proposed offer, Cue shareholders would receive A$0.008 in cash and 0.5625 fully paid ordinary shares in Horizon Oil for each Cue share held.
Cue has advised shareholders not to take any action regarding the proposed takeover at this stage while an assessment gets underway.
Cue has established an Independent Board Committee (IBC) made up of its independent directors Peter Hood AO, Greg Bishop and Ric Malcolm. The committee has been tasked with evaluating the takeover proposal and determining the company’s response. It will work with independent advisers to assess the offer and will update shareholders as the review progresses.
Once formally dispatched, the Horizon takeover offer must remain open for at least one month. The IBC will set out their views in relation to the proposed offer from Horizon in a target’s statement, which will be sent to all Cue shareholders. Cue shareholders will receive the target’s statement in sufficient time to consider their alternatives and make a decision prior to the close of the offer.