Fosun Closes Off-Market Takeover Bid for Roc Oil

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.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
CDL Driver - Memphis - OIL & GAS
Expertise: Business Development|Dispatcher
Location: Memphis, TN
 
Area Manager, Colorado
Expertise: Business Development|Construction Manager|Project Management
Location: 81303
 
Business Development Professional
Expertise: Business Development
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $46.65/BBL 1.78%
Light Crude Oil : $44.24/BBL 1.98%
Natural Gas : $3.04/MMBtu 0.33%
Updated in last 24 hours