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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Emerald Energy | LSE:EEN | London | Ordinary Share | GB00B01NJN34 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 747.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMEEN RNS Number : 6501A Emerald Energy PLC 12 October 2009 FOR IMMEDIATE RELEASE 12 October 2009 Not for release, publication or distribution (in whole or in part) in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction Recommended all cash acquisition of Emerald Energy Plc ("Emerald" or the "Company") by Sinochem Resources UK Limited ("Sinochem") Effective Date of the Scheme of Arrangement The Emerald Directors are pleased to announce that the Scheme of Arrangement to effect the recommended all cash acquisition of Emerald by Sinochem has today become effective. Following an application to the UK Listing Authority requesting the cancellation of the listing of Emerald Shares on the Official List as well as trading of Emerald Shares on the London Stock Exchange's market for listed securities (together, the "Cancellations"), as announced on 7 October 2009, the Cancellations will take place at 8.00 a.m. on 13 October 2009. In accordance with paragraph 10 of Appendix 7 of the City Code, the Cash Consideration of 750 pence per Scheme Share to be paid by Sinochem to Scheme Shareholders pursuant to the Acquisition is expected to be dispatched (in the case of certificated holders of Emerald Shares) or settled in CREST (in the case of uncertificated holders of Emerald Shares) on or prior to 26 October 2009. In accordance with Rule 19.11 of the City Code, a copy of this announcement will be published on the following websites: www.sinochem.com/Portals/0/Skins/index_1027/tabid/613/Default.aspx and www.emer ldenergy.com. For further information please contact: Emerald +44 (0)20 7925 2440 Lisa Hibberd Alastair Beardsall Harland Capital+44 (0)20 3051 9306 Financial adviser to Emerald Harry Sutherland Notes to editors: Capitalised terms used but not defined in this announcement have the meanings given to them in the scheme circular issued to Emerald Shareholders, dated 7 September 2009 (the "Circular"). Unless otherwise indicated, all references in this announcement to times are to London times. Harland Capital, which is authorised and regulated in the United Kingdom by the Financial Services Authority (as an appointed representative to Neutralis Asset Management LLP), is acting for Emerald and no-one else in connection with the matters described in this announcement and will not be responsible to anyone other than Emerald for providing the protections afforded to its clients or for providing advice in relation to the contents of this announcement, or for any other transaction, arrangement or matters referred to in this announcement. The distribution of this announcement in jurisdictions other than the United Kingdom and the Isle of Man may be restricted by law and therefore any persons who are subject to the law of any jurisdiction other than the UK and the Isle of Man should inform themselves about, and observe, any applicable requirements. This announcement has been prepared for the purposes of complying with English and Isle of Man law and the City Code and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside of England and the Isle of Man. This announcement does not constitute an offer or invitation to sell or purchase any securities or the solicitation of an offer to buy any securities pursuant to the Acquisition or otherwise. The Acquisition was made solely by means of the Circular and the Forms of Proxy, which contain the full terms and conditions of the Acquisition. Emerald Shareholders are advised to read the formal documentation in relation to the Acquisition carefully. Neither the content of Sinochem's or Emerald's website (or any other website) nor the content of any website accessible from hyperlinks on any such website is incorporated into, or forms part of, this announcement. Notice to US investors in Emerald The Acquisition relates to the shares of an Isle of Man company, is subject to UK and Isle of Man disclosure requirements (which are different from those of the US) and was made by means of a scheme of arrangement provided for under the Isle of Man Act. A transaction effected by means of a scheme of arrangement is not subject to the tender offer rules under the US Exchange Act. Accordingly, the Acquisition is subject to the disclosure requirements and practices applicable in the UK and the Isle of Man to schemes of arrangement which differ from the disclosure requirements of the US tender offer rules. The receipt of cash pursuant to the Acquisition by a US holder of Emerald Shares as consideration for the transfer of its Emerald Shares pursuant to the Acquisition may be a taxable transaction for US federal income tax purposes and under applicable US state and local, as well as foreign and other tax laws. Each holder of Emerald Shares is urged to consult his independent professional adviser immediately regarding the tax consequences of the Acquisition applicable to him. It may be difficult for US holders of Emerald Shares to enforce their rights and claims arising out of US federal securities laws, since Sinochem and Emerald are located in countries other than the United States, and some or all of their officers and directors may be residents of countries other than the United States. US holders of Emerald Shares may not be able to sue a non-US company or its officers or directors in a non-US court for violations of US securities laws. Further, it may be difficult to compel a non-US company and its affiliates to subject themselves to a US court's judgement. This information is provided by RNS The company news service from the London Stock Exchange END SOAGGMMGNZDGLZM
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