Armour revealed it had entered into a bid implementation agreement with AEP which would see the latter offer to acquire 13.62% of each Armour shareholder’s shares at A$0.25 ($0.18) per share.
Following completion of the proposed proportional takeover, AEP would hold up to a maximum of 14.99% of Armour’s shares.
After completion, AEP would also subscribe for nearly 16.9 million shares at A$0.20
