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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Harbour Energy Plc | LSE:PMO | London | Ordinary Share | Ordinary Shares |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 22.40 | 22.50 | 22.60 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6753P Premier Oil PLC 11 September 2003 Premier Oil Plc ("Premier") Restructuring Update Following the previous announcements in relation to the restructuring of its group, Premier announces that, at a Court hearing held earlier today, the Reduction of Capital of Premier was approved. Completion of the Restructuring, which includes a consolidation of Premier's share capital, is expected to occur prior to the commencement of trading of the new consolidated shares tomorrow morning, 12 September. Charles Jamieson, CEO of Premier Oil, said: "We are extremely pleased to report that we now expect to complete this landmark deal tomorrow. Premier will shortly be fully independent for the first time in eight years, free to pursue its stated strategy of adding value in its core areas in West Africa, South and South East Asia and the UK." Premier also announces that its interim results will be released to the market on 18 September. Details of Reduction of Capital and Share Consolidation The Reduction of Capital is the final condition to the proposed restructuring of the Premier Group (the "Restructuring"), which will include the cancellation of all Premier's ordinary and convertible shares held by Amerada Hess Limited and Petronas International Corporation Limited (the "Reduction of Capital"). The Restructuring also involves the transfer of the whole of Premier's interest in the Yetagun project and part of its interest in Natuna. Immediately following completion of the Restructuring Premier's share capital will be consolidated. Shareholders will receive one consolidated ordinary share of 50 pence each in Premier (the "Consolidated Ordinary Shares") for every 10 ordinary shares held prior to the Reduction of Capital. Following the consolidation, approximately 80.06 million Consolidated Ordinary Shares will be in issue. It is expected that all of the Consolidated Ordinary Shares will commence trading on the London Stock Exchange at 8.00 a.m. on 12 September 2003. CREST accounts are expected to be credited with the Consolidated Ordinary Shares where held in uncertificated form on 12 September 2003, and definitive share certificates for the Consolidated Ordinary Shares held in certificated form will be despatched approximately one week later. Any existing share certificates relating to Premier ordinary shares of 5 pence should be destroyed upon receipt of the replacement certificate. Fractions of Consolidated Ordinary Shares arising pursuant to the consolidation will be aggregated together and sold on behalf of the relevant shareholders and the net proceeds of sale (after deduction of commissions and expenses) distributed among the relevant shareholders in due course. Further details relating to the Restructuring are set out in the circular sent to Premier shareholders dated 11 October 2002. 11 September 2003 ENQUIRIES: Premier Oil plc Tel: 020 7730 1111 Mark Akers College Hill Tel: 020 7457 2020 James Henderson Deutsche Bank Tel: 020 7545 8000 Roger Aylard Nigel Meek This information is provided by RNS The company news service from the London Stock Exchange END CAREFLFFXKBEBBV
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