Press

Ophir Energy: Proposed Acquisition of Certain Southeast Asian Producing and Exploration Assets From Santos Limited / Results of AGM

Posted by OilVoice Press - OilVoice

20-Aug-2018


On 3 May 2018 Ophir announced the proposed acquisition of a package of Southeast Asian assets from Santos Limited, an Australian listed oil and gas company, for an aggregate cash consideration of $205 million pre-working capital adjustments, subject to certain approvals (the "Transaction").

In connection with the Transaction, Ophir announces that at the general meeting of the Company held today, the resolutions put to the shareholders to approve the Transaction and the Commitment Compensation Payment Arrangements in relation to the Transaction were duly passed on a poll. The results showing the number of votes received for and against both resolutions are shown below.

Full details of the resolutions passed, together with explanatory notes, are set out in the shareholder circular including notice of general meeting dated 3 August 2018 (the "Circular"), which is available on Ophir's website at www.ophir-energy.com.

Resolutions

Votes For

Votes Against

Votes

Withheld

Number

%

Number

%

1

To approve the Transaction on the terms set out in the Transaction Agreements (as defined in the Circular)

 

536,162,031

100.00

6,429

0.00

15,176,060

2

To approve the Commitment Compensation Payment Arrangements on the terms set out in the Transaction Agreements

 

536,160,977

100.00

6,429

0.00

15,176,814

Both resolutions were proposed as an ordinary resolution.

As at the date of the general meeting, the Company had 746,019,407 ordinary shares in issue. The Company holds 38,883,130 shares in treasury and therefore the number of total voting rights as at the voting record date was 707,136,277. In accordance with the Company's Articles of Association, every member who is present in person or by proxy has one vote for every share held.  The scrutineer of the poll was Equiniti Limited, the Company's Share Registrar.

Note that a "vote withheld" is not a vote in law and have not been included in the calculation of votes "for" and "against" each resolution.  Proxy appointments which gave discretion to the Chairman have been included in the "for" total.

In accordance with Listing Rule 9.6.2, copies of the resolutions will shortly be submitted to the National Storage Mechanism and will be available for inspection at www.morningstar.co.uk/uk/NSM.

In accordance with the expected timetable of events set out in the Circular, the expected date of completion in respect of the Producing Assets is Friday, 7 September 2018. Completion in respect of the Exploration Assets is expected to take place in the first half of 2019, subject to certain additional conditions that must be fulfilled prior to completion. Further announcements will be made upon completion of each set of Assets.

Capitalised terms used in this announcement but not otherwise defined herein shall have the same meaning given in the Circular.

Ophir EnergyAcqusitionexplorationAGMSantosAsia

More items from oilvoice


Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 1 month agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 1 month agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 2 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11

Total Announces the Distribution of its Second 2018 Interim Dividend

The Board of Directors met on December 12, 2018 and declared  the distribution of a second interim dividend for the 2018 fiscal year of €0.64 per share, in accordance with the Board's decision of July 25, 2018, an amount equal to the first 2018 interim dividend and an increase of 3.2% compared to t ...

OilVoice Press - OilVoice


Posted 2 months agoPress > TotalDividend

Methyl Tertiary Butyl Ether Capacity Will Grow at a CAGR of 16.8% in India Over Next Four Years, says GlobalData

India's Methyl Tertiary Butyl Ether (MTBE) plant capacity is forecasted to grow at a compound annual growth rate (CAGR) of 16.8% from 0.211 million tons per annum (mtpa) in 2017 to 0.460 mtpa in 2022, according to GlobalData , a leading data and analytics company. The company's report: ‘ Met ...

OilVoice Press - OilVoice


Posted 2 months agoOpinion > GlobalDataIndiaMTBE
All posts from oilvoice