Horizon Oil Terminates Merger Implementation Deed with Roc Oil

Australia's Horizon Oil Limited (Horizon Oil) referred Tuesday to the announcements made by Roc Oil Company Limited (Roc) and Horizon Oil yesterday in relation to the takeover offer for Roc by Fosun International Limited (Fosun).

As a result of the Roc board’s unanimous recommendation of Fosun’s takeover offer, Horizon Oil has given notice to Roc terminating the Merger Implementation Deed between Horizon Oil and Roc dated Tuesday April 29, in accordance with its terms.

Accordingly, Horizon Oil has applied for, and received, orders from the Federal Court of Australia:

(a) cancelling the Scheme Meeting of Horizon Oil shareholders which was scheduled for Thursday Aug. 7; and
(b) vacating the proceedings for the second Court hearing which was scheduled for Thursday Aug. 14

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