Verenex Securityholders Approve Arrangement with Libya

Verenex announced that at the special meeting of its securityholders held today, the previously announced plan of arrangement was approved by more than 99.95% of the votes cast by the securityholders. Pending the satisfaction of certain conditions, including approval by the Court of Queen's Bench of Alberta and approval under the Investment Canada Act, the arrangement will result in the Libyan Investment Authority, through its subsidiary, acquiring all of the issued and outstanding shares of Verenex.

The final amount of the working capital component of the cash purchase consideration for each Verenex share is to be determined after final court approval is obtained and before closing. The previously announced cash purchase consideration of $7.24 per share (including the working capital component) is still within range.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Dispatcher Level 1 and Level 2
Expertise: Logistics Management
Location: Denton
Senior Land Professional Job
Expertise: Landman|Lease Analyst
Location: Oklahoma City, OK
Surface Land Professional Job
Expertise: Landman|Lease Analyst
Location: San Antonio, TX
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours