Texon Petroleum Ltd (ASX:TXN) Demerger and Aquisition Schemes effective

Texon Petroleum Ltd (ASX:TXN) advises that the proposed schemes of arrangement under which Talon Petroleum Limited (Talon) will be demerged from Texon (Demerger Scheme) and Texon will be acquired by Sundance Energy Australia Limited (ASX:SEA, Sundance) (Acquisition Scheme) approved by Texon shareholders at meetings held on 25 February 2013 and approved by the Federal Court of Australia earlier today have now become effective.

Court orders

Texon has today lodged the orders of the Federal Court of Australia approving the Demerger and Acquisition Schemes with the Australian Securities and Investments Commission.

Copies of the orders, as well as the approved forms of the Demerger and Acquisition Schemes, are attached to this announcement.

Resignation and appointment of directors

As a result of the Demerger and Acquisition Schemes becoming effective, the following Texon directors, John Armstrong, Bernard Rowley and David Mason, have resigned from the Texon board effective from the time when the Demerger and Acquisition Schemes became effective today.

Mike Hannell, Damien Hannes and Eric McCrady have been appointed as Texon directors effective from the time when the Demerger and Acquisition Schemes became effective earlier today.

Further information

Texon shareholders with any questions are encouraged to contact the Texon Shareholder Information Line on 1300 378 879 (within Australia) or +61 3 9415 4012 (outside Australia) Monday to Friday between 8.30am and 5.00pm (Brisbane time).

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