This milestone allows Arrow to compulsorily acquire the remaining shares in CH4 once the offer closes today.

Arrow said the two companies were well advanced in their merger integration planning and expected the new business would be up and running by the end of August.

“The combination of these two successful companies creates Australia’s leading specialised coal seam gas company,” Arrow said.

“The process for this combination has taken less than five months from first contact to today and demonstrates the constructive and value-adding approach taken by the boards of both companies in executing this arrangement.”

The merged company will have a registry of around 7000 shareholders and a market capitalisation in excess of $250 million.