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HEIT

9.84%
NEUTRAL

Harmony Energy Income Trust Proposes Adjournment of Drax Offer Meetings

Why we think this is neutral

This RNS announcement does not contain any of the mandatory news types that would require a detailed analysis. It simply announces the proposed adjournment of the Court Meeting and General Meeting related to the previously announced Drax Offer for Harmony Energy Income Trust. As this is a procedural update without any financial or operational information, the sentiment is assessed as neutral.

Key Points

  • Proposed adjournment of Court Meeting and General Meeting for the Drax Offer
  • HEIT board recommends superior cash offer from Foresight Group
  • Urges shareholders to take no action on the previous Drax Offer

Summary

The energy trust announces the proposed adjournment of shareholder meetings related to the Drax Offer, as the board has recommended a superior offer from Foresight Group.

Harmony Energy Income Trust (HEIT) has announced that the board has recommended a cash offer from PP Bidco Limited (a company controlled by Foresight Group) that is superior to the previous Drax Offer. As a result, the HEIT board is proposing to adjourn the Court Meeting and General Meeting scheduled for 7 May 2025 to implement the Drax Offer, and urges shareholders to take no action in respect of the Drax Offer.

GENERAL UPDATE