HONG
KONG, Sept. 3, 2024 /CNW/ - Mr. Askar
Alshinbayev ("AA") reports that, on August 29, 2024, he transferred ownership and
control of 182,000,000 common shares (the "Common Shares")
of PetroTal Corp. ("PetroTal") (TSXV: TAL) (AIM: PTAL) to
Blue Harbour Capital Fund I OFC, acting on behalf of Blue Harbour
Capital Securities Fund I ("Blue Harbour"). The transfer was
privately arranged and did not take place through the facilities of
any stock exchange or any other marketplace. The aggregate
consideration received by AA for the transfer of the Common Shares
consisted of approximately 1,889.5968 Investor Shares of Blue
Harbour Capital Securities Fund I, having an aggregate value of
C$127,400,000, being a price of
approximately C$0.70 per Common
Share.
Immediately prior to the transfer, AA owned 206,047,157 Common
Shares, representing approximately 22.54% of the issued and
outstanding Common Shares of PetroTal, on a non-diluted basis.
Following the transfer, AA owned 24,047,157 Common Shares,
representing approximately 2.63% of the issued and outstanding
Common Shares of PetroTal, on a non-diluted basis. As a result of
the transfer, AA is no longer subject to the 10.0% threshold
requiring disclosure under National Instrument 62-103 – The
Early Warning System and Related Take-Over Bid and Insider
Reporting Issues ("NI 62-103").
Immediately prior to the transfer, Blue Harbour owned no Common
Shares of PetroTal. Following the transfer, Blue Harbour AA owned
182,000,000 Common Shares, representing approximately 19.91% of the
issued and outstanding Common Shares of PetroTal, on a non-diluted
basis. As a result of the transfer, Blue Harbour is now subject to
the 10.0% threshold requiring disclosure under NI 62-103.
AA's disposition of the Common Shares, and Blue Harbour's
acquisition of the Common Shares were for investment management
restructuring purposes. AA and/or Blue Harbour may take actions in
the future in respect of each of their security holdings in
PetroTal from time to time based on the then existing facts and
circumstances, which actions could include, without limitation,
acquisitions or dispositions of Common Shares, whether in the open
market, by privately negotiated agreement or otherwise.
PetroTal's head office is located at 16200 Park Row, Suite 310,
Houston, Texas, United States, 77084.
Blue Harbour's head office is located at 4/F – 5/F Light & Salt
House, 14 – 16 Gilman's Bazaar, Central, Hong Kong.
Mr. Alshinbayev's business office is located at Level 37, Heung Yip
Road, Wong Chuk Hang, Hong Kong.
This press release is being issued pursuant to NI
62-103, which requires an early warning report to be filed
under PetroTal's profile on SEDAR (www.sedar.com) containing
further information respecting the foregoing matters.
SOURCE Askar Alshinbayev