9. Subsequent events
On 8 August 2019, AGL announced its intention to undertake an on-market buy-back of up to 32,791,252 shares (being approximately 5% of AGL’s issued ordinary shares). AGL reserves the right to vary, suspend or terminate the buy-back at any time.
Acquisition of Perth Energy Holdings Pty Ltd
On 8 August 2019, AGL announced it had agreed to purchase 100% of the outstanding share capital of Perth Energy Holdings Pty Ltd for consideration of up to $93 million, based on enterprise value. The transaction is on a cash and debt free basis and is subject to a number of conditions precedent, including regulatory approval, which were not satisfied at the date of this report.
Apart from the matters identified above and elsewhere in this Directors’ Report and the AGL Financial Report, the Directors are not aware of any other matter or circumstance that has arisen since 30 June 2019 that has significantly affected or may significantly affect the operations of AGL, the results of those operations, or the state of affairs of AGL in the future.