Centurion Set to Become Part of Dana Gas
Centurion Energy International Inc. said that the securityholders of Centurion have approved the plan of arrangement involving Centurion, Giza Acquisition Inc. (a wholly owned subsidiary of Dana Gas PJSC), the holders of common shares in the capital of Centurion, and the holders of options to purchase Common Shares, as more particularly described in the management information circular of Centurion dated December 6, 2006.
At the special meeting of securityholders to approve the Plan of Arrangement held on January 8, 2007, 43,867,337 votes representing 94% of the Common Shares and 2,773,533 votes representing 100% of the Options were voted in favor of the Plan of Arrangement. A majority of the minority shareholders of Centurion also voted in favor of the Plan of Arrangement. In addition, the Court of Queen's Bench of Alberta has approved the Plan of Arrangement.
Centurion expects to file articles of arrangement on or about January 10, 2007 to effect the Plan of Arrangement. Upon the filing of articles of arrangement, Centurion will become a wholly owned subsidiary of Giza and the former shareholders of Centurion will receive $12.00 cash in exchange for their Common Shares
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