AGL advises that the Scheme of Arrangement to acquire 100% of Mosaic Oil N.L. was implemented today. Under the Scheme, Mosaic shareholders could elect to receive new AGL shares in return for their Mosaic shares, in lieu of the cash consideration. Accordingly, 6,984,172 new AGL shares have been issued to those Scheme Participants who validly elected to receive Script as consideration for the acquisition by AGL of their Mosaic Shares under the Scheme.
AGL is one of Australia's leading integrated renewable energy companies and is taking action toward creating a sustainable energy future for our investors, communities and customers. Drawing on 175 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has one of Australia's largest retail energy and dual fuel customer bases. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is Australia's largest private owner and operator of renewable energy assets and is looking to further expand this position by exploring a suite of low emission and renewable energy generation development opportunities.