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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bridge Energy | LSE:BRDG | London | Ordinary Share | NO0010566235 | ORD NOK1 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 152.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBRIDGE 18(th) October 2013 Bridge Energy ASA ("Bridge", "Group" or "the Company") Announcement from Spike Exploration Holding AS Bridge, the Oslo Børs and AIM listed oil and gas exploration and production company (OSE:BRIDGE/AIM:BRDG.L), notes the announcement by Spike Exploration Holding AS (the "Offeror") today in relation to its voluntary tender offer to acquire all outstanding shares in Bridge Energy ASA. As at the time of this release the Offeror holds 21,058,484 Shares, representing approximately 33.20 per cent of the Shares and voting rights in the Company. In addition, the Offeror has received acceptances under the Offer for a total of 40,250,144 Shares, representing approximately 63.5 per cent of the Shares and voting rights in the Company. In total, the Offeror's holding of Shares and rights to Shares equals approximately 96.7 per cent of the outstanding Shares and voting rights in the Company. This means that the condition relating to minimum acceptance level in the Offer has been met. The full text of Spike Exploration Holding AS announcement is below: NOT FOR DISTRIBUTION IN OR INTO AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL Stavanger, 18 October 2013 - Reference is made to the offer document dated 3 October 2013 (the "Offer Document"), issued by Spike Exploration Holding AS (the "Offeror"), relating to its voluntary tender offer (the "Offer") to acquire all outstanding share(the "Shares") in Bridge Energy ASA (the "Company"). As of the time of this release, the Offeror holds 21,058,484 Shares, representing approximately 33.20 per cent of the Shares and voting rights in the Company. In addition, the Offeror has received acceptances under the Offer for a total of 40,250,144 Shares, representing approximately 63.5 per cent of the Shares and voting rights in the Company. In total, the Offeror's holding of Shares and rights to Shares equals approximately 96.7 per cent of the outstanding Shares and voting rights in the Company. This means that the condition relating to minimum acceptance level in the Offer has been met. The period within which the Offer can be accepted expires today at 16:30 hours (CET). Completion of the Offer is subject to the fulfilment or waiver by the Offeror of the conditions to completion set out in the Offer Document. The Offeror expects that the remaining conditions to completion of the Offer will be met or waived, as applicable, no later than early November 2013. Other than the condition relating to acceptance level addressed above, as of the date hereof, none of the conditions that require any action in order to be fulfilled have been fulfilled, and none of the conditions that refers to events that shall not occur have, to the Offeror's knowledge, occurred. The Offer and the distribution of this announcement and other information in connection with the Offer may be restricted by law in certain jurisdictions. Spike Exploration does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. Contacts Spike Exploration Holding AS Bjørn Inge Tønnessen, CEO, +47 902 01 289, bit@spike- x.com Harald Vabø, Chairman, +47 917 11 209, harald.vabo@hitecvision.com This information is subject to the disclosure requirements set out in sections 4-3 and 6-19 of the Norwegian Securities Trading Act. - Ends - For further information, please contact: Bridge Energy Tom Reynolds, Chief Executive tom.reynolds@bridge-energy.com Aberdeen +44 1224 659 120 Euan Tait, Corporate Development euan.tait@bridge-energy.com Aberdeen +44 1224 659 120 Cenkos Securities Jon Fitzpatrick +44 207 397 1951 Neil McDonald +44 131 220 9771 FTI Consulting Edward Westropp/Natalia Erikssen +44 20 7831 3113 Edward.Westropp@fticonsulting.com Statutory guidance statements This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. The information contained in this announcement has been reviewed and approved by Dr Alfred Kjemperud, Managing Director, Bridge Energy Norge AS. Alfred holds a PhD in Geology from The University of Oslo and has been a practising Petroleum Geologist for over 30 years. He has compiled, read and approved the technical disclosure in this regulatory announcement. The technical disclosure in this announcement and the estimates are based on the definitions and guidelines set out in the 2007 Petroleum Resources Management System prepared by the Oil and Gas Reserves Committee of the Society of Petroleum Engineers and reviewed and jointly sponsored by the World Petroleum Council (WPC), the American Association of Petroleum Geologists (AAPG) and the Society of Petroleum Evaluation Engineers (SPEE).These definitions and guidelines can be found on the SPE website at www.spe.org. Notes to Editors Bridge Energy is an oil and gas exploration and production company which holds production licences in the UK (North Sea) Continental Shelf and exploration assets in both the UK and Norwegian Continental Shelves. The company is listed on the Oslo stock exchange (OSE: BRIDGE) and the London stock exchange (AIM: BRDG.L). The Company has a significant number of licences both within the UK and NCS, including several operatorships. Bridge has drilled 18 exploration and appraisal wells, including ten discoveries. Underpinned by existing production from its operated Victoria field, non-operated Duart field, non-operated Boa field, Bridge boasts a high impact exploration portfolio with a strong inventory of undeveloped gas discoveries which represents a sustainable business platform for production and exploration growth in the North Sea. For more information please visit: www.bridge-energy.com This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Bridge Energy ASA via Thomson Reuters ONE HUG#1736740 http://www.bridge-energy.no/
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