The offer has during the regular acceptance period that expired on August 17, 2001, been accepted to such an extent that the shares and warrants tendered represent 89.8 per cent of the shares and 90.3 percent of the voting rights in Lundin Oil, on a fully diluted basis.
In order to enable acceptance by those who have not yet accepted the offer, Talisman has decided to extend the acceptance period to 3:00 p.m. Swedish time on Friday, August 31, 2001.
Settlement for shares and warrants tendered during the regular acceptance period is expected to begin on or around August 30. Settlement for shares tendered during the extended acceptance period is expected to begin by September 13. Talisman has declared its intention to request compulsory acquisition of the minority shares in Lundin Oil.
The resolution by Talisman to declare the public offer unconditional means that the following resolutions by the extraordinary general meeting of Lundin Oil, which was adopted subject to the offer being declared unconditional, now are being executed:
In accordance with agreement between Lundin Oil and Talisman, Lundin Oil further transfers to a third party all of the shares of International Petroleum Libya Limited and Lundin Investments Limited, the two wholly-owned subsidiaries of Lundin Oil which hold the Lundin Oil group's interests in Libya. The aggregate purchase price is MUSD 75 based on a July 1, 2001 effective date and is payable in cash.
Most Popular Articles