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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:3282I Sodra Petroleum AB 10 August 2001 Sodra Petroleum AB announces that it's parent company Lundin Oil AB (Lundin) has today issued the following: TALISMANS OFFER PASSED ANOTHER MILESTONE AS LUNDIN OIL AB SHAREHOLDERS APPROVE THE SPIN OFF OF LUNDIN PETROLEUM AB Extraordinary General Meeting of Lundin Oil AB was held in Stockholm on August 9, 2001. The Meeting resolved, in accordance with the Board of Directors' proposal - to introduce a new class of shares, C-shares, which can be issued in order to restore the share capital and share premium reserve in conjunction with distribution of the shares in the subsidiary Lundin Petroleum AB; The Meeting further resolved, subject to Talisman Energy AB declaring the public offer, which was made to the shareholders and warrant holders in Lundin Oil on June 20, 2001, unconditional: * to reduce 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. The distribution shall take place in the form of distribution rights which each entitle the holder to one share in Lundin Petroleum. The distribution rights shall be converted automatically into shares in Lundin Petroleum following registration of the resolutions to reduce the share capital and to issue new shares (see below). The record date for receiving distribution rights is August 16, 2001. Commencing August 14, 2001 shares in Lundin Oil will be traded exclusive of the right to receive distribution rights; * to issue not less than 17,000,000 and not more than 22,000,000 class C shares at a price of SEK 36.50 per share. The new shares are issued in order to restore the share capital and share premium reserve and shall be subscribed for by Talisman Energy AB; * to elect a new Board of Directors consisting of Johan Gernandt, Carl Bildt and Kevin Dunne. In the event the condition is fulfilled and the new Board takes office, all present Directors of the Board, with the exception of Carl Bildt, will thus resign; * to change the exercise period for certain outstanding warrants issued by the AGM in Lundin Oil on May 4, 2000 which entitle to subscription of new shares during the period May 22, 2002 - May 22, 2003. The new exercise period is August 10, 2001 - May 22, 2003; * to ratify the resolution by the EGM of Lundin Petroleum AB on June 20, 2001 to issue debentures with detachable warrants attached. The debentures shall be subscribed for by a wholly owned subsidiary of Lundin Petroleum AB which shall detach the warrants and transfer them to employees in Lundin Petroleum. For further information, please contact: Ian H Lundin President Tel: +41 22 319 66 00 Or Maria Hamilton Corporate Communications Tel: +46 8 440 54 50 To non-US holders of Global Depositary Receipt in Lundin Oil AB Holders of Global Depositary Receipts in Lundin Oil ("GDSs") who are not "U.S. persons" and who desire to receive the Lundin Petroleum shares should surrender their GDSs to Morgan Guaranty Trust Company of New York ("the GDS Depositary") for cancellation of the GDSs and the delivery of the underlying Lundin Oil Class B shares prior to the record date for the distribution by Lundin Oil of rights that will convert into the Lundin Petroleum shares. This record date will be as of the close of trading in Stockholm on August 16, 2001, and it is recommended that such non-U.S. holders of GDSs who wish to receive Lundin Petroleum shares surrender their GDSs to the GDS Depositary for cancellation before the close of trading on August 13, 2001. Holders of GDSs who desire to cancel their GDSs and receive the underlying Lundin Oil Class B shares may be required to establish a brokerage account in Sweden for the receipt of the underlying Lundin Oil Class B shares. It is solely the responsibility of a GDS holder who wishes to receive Lundin Petroleum shares to make appropriate arrangements to surrender their GDSs in a timely fashion and Lundin Oil assumes no responsibility for these arrangements. The GDS Depositary will close its books, and thus no additional GDSs will be issued in exchange for Lundin Oil Class B shares and no Lundin Oil GDSs will be cancelled, from the close of trading on August 13, 2001 until after the GDS Record Date. 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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