Offer Talks Terminated


 

TIDMDOO 
 
RNS Number : 1530R 
Mission NewEnergy Limited 
17 August 2010 
 

 
 
17 August 2010 
 
 
Possible Offer for D1 Oils plc ("D1") - Offer talks terminated 
 
On 25 May 2010 the board of Mission NewEnergy Limited ("Mission") announced that 
it had approached the board of D1 about the possibility of making an offer for 
the entire issued and to be issued share capital of D1 , and stated in its 
announcement that there could be no certainty that an offer would be made. 
 
Whilst the Board of D1 was inclined to recommend Mission's proposed offer and 
had received statements of support from D1's institutional shareholders 
representing approximately 41 per cent. of the issued share capital, a major 
shareholder of D1, Principle Capital Investments Limited ("Principle")_has 
informed the D1 Board that is does not support the proposed offer. Without 
Principle's support, Mission's offer cannot be successful. 
 
Mission strongly believes that Jatropha is the near term solution for the 
biofuels industry and the combination of the two most established Jatropha 
businesses makes inherent business logic. 
 
Following further detailed discussions with the board of D1, Mission confirms 
that discussions in relation to a possible offer have terminated and it is no 
longer considering making an offer for D1. 
 
Important Notice 
For the purposes of Rule 2.8 of The City Code on Takeovers and Mergers (the 
"Code"), Mission reserves the right (on behalf of itself and anyone acting in 
concert with it) to announce an offer or possible offer for D1 and/or to take 
any other action which would otherwise be restricted under Rule 2.8 of the Code 
within the six months following the date of this announcement in the event that: 
 
1. the agreement or recommendation of the board of D1 is given to the making of 
such an announcement or the taking of any such other action; or 
 
2. a third party announces an offer for D1; or 
 
3. D1 announces a 'whitewash proposal' (for the purposes of Note 1 on the Notes 
on Dispensations from Rule 9 of the Code) or a 'reverse takeover' (as set out in 
Note 2 on Rule 3.2 of the Code); or 
 
4. with the consent of the Panel, if there is a material change in 
circumstances. 
 
Enquiries: 
James Garton 
Mission NewEnergy Limited 
0012108615861 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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