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BRIEF-Central Petroleum updates on Macquarie SCT's acquisition proposal

Published 21/11/2016, 08:44 pm
© Reuters.  BRIEF-Central Petroleum updates on Macquarie SCT's acquisition proposal
CTP
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Nov 21 (Reuters) - Central Petroleum Ltd CTP.AX

* Central petroleum - board of central has agreed that Macquarie can conduct confidential due diligence, with view to macquarie developing improved proposal

* Central petroleum -"Macquarie is not be bound to make a formal offer and has no entitlement to any break fee if central proceeds with another proposal"

* Board of directors of central determined that proposal is not in best interests of shareholders

* Central petroleum -refers to Macquarie Sct Pty Ltd's unsolicited, indicative and non-binding proposal to acquire 100 per cent of issued capital of co Source text for Eikon: ID:nASXbf1P37 Further company coverage: CTP.AX

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