Geoex to Acquire All Outstanding Shares in MultiClient Geophysical ASA

Source: www.gulfoilandgas.com 3/30/2017, Location: Europe

Reference is made to Geoex Ltd's (Geoex) voluntary cash offer (the "Offer") for all outstanding shares of MultiClient Geophysical ASA (MCG) made on 19 January 2017, as amended. The acceptance period under the Offer expired yesterday, 29 March 2017, at 16:30 CET. Following expiry of the acceptance period, Geoex has received acceptances of the Offer from shareholders holding 85,802,501 shares in MCG, representing approximately 92.4% of the issued and outstanding shares in MCG.

Geoex hereby confirms that the conditions for completion of the Offer, as set out in section 4.4 of the Offer Document, have been satisfied and/or waived by Geoex and that Geoex will complete the Offer as set out in the Offer Document, as amended.

Settlement of NOK 1.40 per share in MCG will be made to the accepting shareholders within 14 calendar days, i.e. no later than on 13 April 2017.

Geoex intends to, as soon as practically following completion of the Offer, carry out a compulsory acquisition of the remaining shares in MCG in accordance with section 4-25 of the Norwegian Public Limited Companies Act and section 6-22 of the Norwegian Securities Trading Act and have the shares of MCG delisted from the Oslo Axess.

Aabo-Evensen & Co Advokatfirma AS is acting as legal advisors to Geoex Ltd in connection with the Offer.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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