OilVoice - Imdex and Coretrack Execute Merger Implementation Agreement

Imdex and Coretrack Execute Merger Implementation Agreement

Friday, July 24, 2009

Imdex Limited and Coretrack Limited today announced the execution of the Merger Implementation Agreement under which they have agreed to proceed with the merger by way of a Scheme of Arrangement.

Implementation of the merger is conditional on the satisfaction of a number of conditions precedent, including a period of mutual confirmatory due diligence to be completed by 5pm (Perth time) on Thursday 6 August 2009.

The Board of Coretrack unanimously recommends that all Coretrack shareholders and option holders support the merger proposal, subject to the Independent Expert confirming that the merger is in the best interests of Coretrack shareholders and option holders.

Coretrack’s Directors, Equitas Nominees, William Connell, Damian Stockton and each of their related entities intend to vote in favour of the proposed merger, subject to the Coretrack Directors not changing their recommendation.

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