Australia's Roc Oil Company Limited (ROC) announced Monday that it has been informed by Transcendent Resources Limited, a wholly owned subsidiary of Fosun International Limited (together Fosun), that it has now closed its off-market takeover bid for ROC.
The Offer Period ended at 7:00pm Nov. 2014 (Sydney time) and, as at the end of the Offer Period, Fosun has received acceptances of 636,698,799 ROC Shares, representing 92.595 percent of all ROC Shares on issue.
As Fosun has acquired at least 90 percent of all ROC Shares on issue, it is entitled to compulsorily acquire all of the ROC Shares on issue in accordance with the Corporations Act. Fosun has advised that it intends to proceed with compulsory acquisition in accordance with the Corporations Act. Fosun has further advised that it intends to procure that ROC be removed from the official list of ASX.
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