Ann: CERCG withdraws indicative proposal to acquire 100% of AWE, page-4

I always suspected the offer with full conditions !

IMO, it is Nothing more than an exercise to boost the value of their holding, for end of the year book balancing purposes ?



CERCG withdraws indicative proposal to acquire 100% of AWE
AWE Limited (ASX: AWE) announces that it has received notice from China Energy Reserve and Chemical Group Australia Pty Limited (CERCG), that it had formally withdrawn its conditional, non- binding indicative proposal to acquire 100% of the shares in AWE for $0.71 per share.
The AWE Board remains fully committed to acting in the best interests of, and maximising value for, AWE’s shareholders.
AWE appointed UBS AG, Australia Branch, and Highbury Partnership as financial advisors and Allens as legal advisor.
For information please see our website www.awexplore.com or contact:
  David Biggs
CEO and Managing Dire