Centrica Sends Compulsory Acquisition Terms To Venture Holders
September 28 2009 - 9:42AM
Dow Jones News
Centrica Resources PLC (CNA.LN), said Monday that it posted to
those Venture Production PLC (VPC.LN) shareholders who have not
accepted the offer setting out Centrica Resources' intention to
acquire compulsorily all outstanding Venture (shares on the same
terms as originally available under the Offer.
MAIN FACTS:
-As at on Sep. 24, Centrica Resources owned or had received
valid acceptances of the Offer in respect of 143,095,940 Venture
shares, representing in aggregate 95.54% of the existing issued
ordinary share capital of Venture.
-Therefore, excluding those Venture shares acquired by Centrica
Resources prior to the commencement of the offer, valid acceptances
had been received in respect of more than 90% of the Venture shares
to which the Offer relates.
-Venture has applied to the U.K. Listing Authority for the
cancellation of the listing of Venture shares on the Official List
and to the London Stock Exchange for the cancellation of admission
to trading of Venture shares on the London Stock Exchange's main
market for listed securities.
-This is expected to take effect on or shortly after 0700 GMT on
Oct. 2.
-Venture shareholders who have not accepted the Offer are
encouraged to do so as soon as possible.
-Venture shareholders who have already accepted the Offer need
take no further action.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
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