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


Seasonality in Brazilian Petroleum Liquids Production is Driven by Biofuels

Source: U.S. Energy Information Administration, International Energy Statistics , and Short-Term Energy Outlook Brazil's ethanol output is seasonal and typically peaks during the fourth quarter (October–December) of each year. The peak coincides with the harvest of sugarcane, the primar ...

OilVoice Press - OilVoice


Posted 2 days agoOpinion > EIAEnergy Information Administration EIABrazil +4

Africa Energy - Market Announcement

VANCOUVER, Sept. 21, 2018 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) ("Africa Energy" or the "Company") acknowledges the stock trading halt in Pancontinental Oil and Gas NL (ASX: PCL) ("PCL") today pending an announcement regarding the Cormorant-1 well offshore the R ...

OilVoice Press - OilVoice


Posted 2 days agoPress > Africa EnergyASXAfrica +2

NPD: Delineation of the Hanz Field and Dry Wildcat Well in the North Sea - 25/10-16 S, A and C and 25/10-16 B

Aker BP ASA, operator of production licence 028 B, has concluded the drilling of appraisal wells 25/10-16 S, A and C on the Hanz field, as well as wildcat well 25/10-16 B drilled in production licence 915 just southeast of the Hanz field. The wells were drilled about 14 kilometres north of the Iv ...

OilVoice Press - OilVoice


Posted 2 days agoPress > NPDNorwegian Petroleum DirectorateNorway +7

Tower Resources: South Africa Update – Farm-out Process

Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM-listed oil and gas company with its focus on Africa, is pleased to provide the following update on its Algoa-Gamtoos licence in South Africa, in which the Company holds a 50% interest through its wholly owned subsidiary Rift Pe ...

OilVoice Press - OilVoice


Posted 2 days agoPress > Tower ResourcesSouth AfricaOffshore +5

South Africa Update – Farm-out Process

Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM-listed oil and gas company with its focus on Africa, is pleased to provide the following update on its Algoa-Gamtoos licence in South Africa, in which the Company holds a 50% interest through its wholly owned subsidiary Rift Pe ...

OilVoice Press - OilVoice


Posted 2 days agoPress
All posts from oilvoice