Total E&P Canada Ltd. announced that it has extended its offer to acquire all of the issued and outstanding common class "A" voting shares of Synenco Energy Inc. pursuant to its offer and take-over bid circular dated May 13, 2008, as extended by notices of variation dated June 19, 2008 and July 4, 2008. The previously announced offer by Total Canada to acquire the Common Shares for $9.00 in cash for each Common Share had a prior expiry on July 15, 2008.
On July 15, 2008, approximately 58% of the outstanding Common Shares had been deposited to the offer. As a result, the minimum condition to the offer that there be deposited and not withdrawn at least 66% of the outstanding Common Shares has not been satisfied or waived by Total Canada. Total Canada has therefore extended the time in which Synenco shareholders may deposit their Common Shares under the offer to on July 28, 2008.
Synenco shareholders who have already deposited their Common Shares to the offer do not need to take any further action to accept the offer. Shareholders who have not yet deposited their Common Shares in acceptance of the offer may tender such shares to the offer at any time prior to 7:00 p.m on July 28, 2008
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