Exploration company Aminex, which is listed in Dublin, has urged its shareholders to take no action following an all-share offer for the company by Apple Oil & Gas.
A statement said the offer was unsolicited and had been announced without consultation with the Aminex board.
Apple said on Friday morning that it would offer four Apple shares for every 11 Aminex shares. It said it would retain the first £3m sterling of available cash in Aminex and return the rest to shareholders through a zero coupon loan note.
