San Leon Energy PLC Update on Letters of Intent (6733R)
November 21 2012 - 4:14AM
UK Regulatory
TIDMSLE TIDMAUL
RNS Number : 6733R
San Leon Energy PLC
21 November 2012
Not for release, publication or distribution, in whole or in
part, directly or indirectly, in, into or from any jurisdiction
where to do so would constitute a violation of the relevant laws or
regulations of such jurisdiction.
FOR IMMEDIATE RELEASE 21 November 2012
San Leon Energy plc ("San Leon")
and
Aurelian Oil & Gas plc ("Aurelian")
Update on letters of intent
Further to the announcement on 12 November 2012 of a recommended
merger (the "Merger") pursuant to which San Leon will acquire the
entire issued and to be issued share capital of Aurelian to be
effected by means of a Scheme of Arrangement under Part 26 of the
Companies Act 2006, San Leon is pleased to confirm that an
additional letter of intent has been received from 55 North Capital
Partners Ltd. in relation to 15,910,000 ordinary shares in the
capital of Aurelian (the "Shares") representing approximately 3.22
per cent. of the issued ordinary share capital of Aurelian
confirming its current intention to vote, in respect of the Shares,
at the Court Meeting and the General Meeting to be convened in
respect of the Merger, in favour of each resolution to approve and
implement the Merger.
San Leon has now received irrevocable undertakings to vote in
favour of the Scheme at the Court Meeting and the resolutions to
effect the Merger at the General Meeting from Kulczyk Investments
S.A.,Toscafund Asset Management LLP and Lord Sainsbury in respect
of an aggregate total of 207,866,958 Aurelian Shares, representing
approximately 42.06 per cent. of the issued ordinary share capital
of Aurelian.
In addition, letters of intent have been received from Cheyne
Capital Management (UK) LLP and 55 North Capital Partners Ltd. in
respect of an aggregate of 39,508,420 Aurelian Shares representing
approximately 7.99 per cent. of the issued ordinary share capital
of Aurelian.
Accordingly, San Leon has received irrevocable undertakings and
letters of intent to vote in favour of the Merger from
approximately 50.05 per cent. of Aurelian's shareholders.
Enquiries:
San Leon Energy plc +353 1291 6292
020 36173913
Oisin Fanning
John Buggenhagen
Fox-Davies Capital Limited (financial adviser
and joint broker to San Leon) 020 3463 5000
Susan Walker
Daniel Fox-Davies
College Hill (public relations adviser to
San Leon) 020 7457 2020
Rupert Trefgarne
Alexandra Roper
This information is provided by RNS
The company news service from the London Stock Exchange
END
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