SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Timelord who wrote (436)12/30/1997 7:07:00 PM
From: Tomas  Read Replies (1) of 2742
 
Sands has received more than 90% of shares; offer extended

Tuesday Dec 30 1997
Mr Ian Lundin reports
In connection with the Sands Petroleum AB offer to purchase the outstanding shares of International Petroleum (including shares represented by Swedish depositary receipts), in excess of 90% of the shares of IPC (including shares represented by SDRS), calculated on a fully diluted basis, have been tendered to the offer by Sands, thereby satisfying one of the conditions of the offer. The other conditions of the offer for the outstanding SDRs have already been fulfilled or waived. The SDR offer has now been completed. The offer for the common shares of IPC which is being made according to Canadian law, is, however, still subject to registration with the Swedish Patent and Registration Office of the newly issued series B shares of Sands.

The final compilation of shares and SDRs tendered is expected to be completed by January 9 1998, after which Sands will announce the level of acceptance. Settlement is expected to begin on or about January 15 1998. To enable holders of SDRs who have not yet accepted the SDR offer to do so, Sands has extended the acceptance period until January 9 1998. The acceptance form must be received by Skandinaviska Enskilda Banken, Publika Emisisoner, no later than 6:00 pm Swedish time on January 9 1998. Settlement for SDRs tendered during the extended acceptance period is expected to begin on or about January 23 1998. After the expiration of the extended acceptance period Sands intends to begin a compulsory acquisition process in order to acquire any remaining shares in IPC, including shares represented by SDRS.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News