Kazakh E&P Co Arawak Ceases Trading on LSX, Directors Step Down
Arawak Energy announced that following the successful offer by Rosco S.A. ("Rosco") to acquire all of the outstanding common shares of Arawak, the Company's shares have been delisted from trading on the London Stock Exchange effective April 24, 2009.
On April 8, 2009, Rosco announced that it held approximately 96.91% of Arawak's total issued common share capital following its recommended and increased cash offer (the "Offer") of C$1.00 per Arawak share at the end of January 2009. Rosco, a subsidiary of the Vitol group of companies, has declared its Offer wholly unconditional and has commenced proceedings to compulsorily acquire all the remaining outstanding shares related to the Offer. Arawak shares were delisted from trading on the Toronto Stock Exchange on April 14, 2009.
Arawak also announces that executive Directors Alastair McBain and Shahveer Kapadia and non-executive Directors James Coleman, Nicholas Clayton and Alan Duncan have stepped down from the Board. Arawak's new Board comprises David Fransen, Roland Favre and Jacques Sterken, nominees of the Vitol group of companies.
- Arawak Terminates MENA Strategic Cooperation Agreement with Gulfsands (Jan 26)
- Kazakh E&P Co Arawak Ceases Trading on LSX, Directors Step Down (Apr 24)
- Arawak Releases 2008 Reserves Summary (Mar 11)