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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Spg Media | LSE:SPM | London | Ordinary Share | GB0008462714 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 12.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7896I Sodra Petroleum AB 21 August 2001 Sodra Petroleum AB announces that its parent company, Lundin Oil AB ("Lundin Oil") has today issued the following announcement on 21 August 2001. Talisman Energy proceeds with its bid for Lundin Oil - acquires more than 90 per cent of the shares and votes of Lundin Oil Talisman Energy Inc.'s public offer, through its wholly-owned Swedish subsidiary Talisman Energy AB ("Talisman"), to the holders of shares and warrants in Lundin Oil AB (publ) ("Lundin Oil") has been successful and Talisman has declared the offer unconditional. The offer has during the regular acceptance period that expired on August 17, 2001, been accepted to such an extent that the shares and warrants tendered represent 89.8 per cent of the shares and 90.3 per cent of the voting rights in Lundin Oil, on a fully diluted basis. In order to enable acceptance by those who have not yet accepted the offer, Talisman has decided to extend the acceptance period to 3:00 p.m. Swedish time on Friday, August 31, 2001. Settlement for shares and warrants tendered during the regular acceptance period is expected to begin on or around August 30. Settlement for shares tendered during the extended acceptance period is expected to begin by September 13. Talisman has declared its intention to request compulsory acquisition of the minority shares in Lundin Oil. The resolution by Talisman to declare the public offer unconditional means that the following resolutions by the extraordinary general meeting of Lundin Oil, which was adopted subject to the offer being declared unconditional, now are being executed: * Reduction of the share capital and the share premium reserve with repayment to the shareholders through distribution of all Lundin Oil's shares in the subsidiary Lundin Petroleum AB "Lundin Petroleum"). The total reduction amount is MSEK 609.8. The distribution takes place in the form of distribution rights which each entitle the holder to one share in Lundin Petroleum. The distribution rights were booked into the securities accounts of the Lundin Oil shareholders on August 20, 2001 and are automatically converted into shares in Lundin Petroleum following registration of the resolutions to reduce the share capital and to issue new shares. * The issue of not less than 17 million and not more than 22 million class C shares at a price of SEK 36.50 per share. Talisman will subscribe for 17 million C-shares at a total subscription price of MSEK 620.5. Through completion of the offer and the subscription of class C shares, Talisman will acquire shares and warrants equal to at least 91.2 per cent of the shares and 91.6 per cent of the voting rights in Lundin Oil, on a fully diluted basis. * The entry into office of the new Board of Directors consisting of Johan Gernandt, Carl Bildt and Kevin Dunne. All present Directors of the Board, with the exception of Carl Bildt, will resign. In accordance with agreement between Lundin Oil and Talisman, Lundin Oil further transfers to a third party all of the shares of International Petroleum Libya Limited and Lundin Investments Limited, the two wholly-owned subsidiaries of Lundin Oil which hold the Lundin Oil group's interests in Libya. The aggregate purchase price is MUSD 75 based on a July 1, 2001 effective date and is payable in cash. For further information, please contact: Ian H Lundin, President and CEO Tel:+41 22 319 66 00 or Maria Hamilton Corporate Communications, Lundin Oil Tel: 08-440 54 50 Notes for editors: 1. Lundin is the parent company of Sodra by virtue of its holding of 40,506,500 Ordinary Shares of SEK0.05 each. The 40,506,476 Convertible Shares of SEK0.05 each in Sodra listed on the AIM market are effectively convertible into the right to subscribe for B Shares in Lundin in November 2001. Upon exercise of the conversion right, for every 12 Convertible Shares, the holder will receive a warrant to subscribe for 1 new Lundin B Share at the nominal value of SEK0.50. 2. Convertible Shares in Sodra are also listed on the New Market of the Stockholm Stock Exchange. Lundin B Shares are currently quoted on the Stockholm Stock Exchange, Toronto Stock Exchange and the Nasdaq National Market.
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