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.


Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Project Procurement & Contracts Advisor (Subsea Equipment)
Expertise: Contracts Engineer|Purchasing|Subsea Engineering
Location: Houston, TX
 
Contracts Coordinator
Expertise: Contracts Administration
Location: Hanover, MD
 
Contract Administrator
Expertise: Contracts Engineer
Location: Nederland, TX
 
search for more jobs

Brent Crude Oil : $55.47/BBL 0.69%
Light Crude Oil : $52.48/BBL 0.30%
Natural Gas : $3.41/MMBtu 0.29%
Updated in last 24 hours