MERGERS-ACQUISITIONS / Shareholders and Courts Approve Del Roca Energy
and Tekerra Gas Merger
ASE SYMBOL: DER
AND TEKERRA GAS INC.
VSE SYMBOL: TKG
OCTOBER 15, 1998
CALGARY, ALBERTA--At Special Meetings of Shareholders held on
October 9, 1998, the Shareholders of DEL ROCA ENERGY INC. ("Del
Roca") and TEKERRA GAS INC. ("Tekerra") have voted in favour of
amalgamating the two companies under the name of Del Roca Energy
Ltd. The Court of Queen's Bench has also approved the Plan of
Arrangement during a hearing on October 13, 1998. This merger was
first announced July 9, 1998 and amended August 25, 1998.
Shareholders of Tekerra will receive 0.6000 common shares of Del
Roca Energy Ltd. per common share held in Tekerra and shareholders
of Del Roca Energy Inc. will receive 0.29875 common shares of Del
Roca Energy Ltd. per common share held. Del Roca Energy Ltd. will
have approximately 12,640,000 common shares issued and
outstanding, and will trade on the Alberta Stock Exchange.
It is anticipated that the Amalgamation will be complete by
October 31, 1998 at which time new share certificates of Del Roca
Energy Ltd. will be distributed. Trading in the common shares of
Del Roca Energy Ltd. will commence after approval of the new
trading symbol has been obtained from the Alberta Stock Exchange.
IN THE CASE OF TEKERRA GAS INC. MR. JOHN KINGSBURY IS RESPONSIBLE
FOR THE INFORMATION CONTAINED HEREIN RELATING TO TEKERRA. |
