Diversified Gas & Oil PLC Result of Shareholder Meeting (7496J)
June 30 2017 - 6:32AM
UK Regulatory
TIDMDGOC
RNS Number : 7496J
Diversified Gas & Oil PLC
30 June 2017
30 June 2017
Diversified Gas & Oil PLC
("DGO" or the "Company")
Result of Shareholder Meeting
Proposed acquisition of certain gas and oil assets of Titan
Energy, LLC (the "Acquisition")
Admission of Enlarged Share Capital to trading on AIM
Diversified Gas & Oil PLC, the US based gas and oil
producer, is pleased to announce that all resolutions put to
shareholders at the Company's Shareholder Meeting held earlier
today were duly passed.
Following approval by Shareholders the Company will complete the
Acquisition later today. The total consideration for the
Acquisition is $84.2m. However, as set out in the announcement of
16 June 2017, certain of the Titan Assets are held within a public
partnership structure which will be transferred to the Company
after Completion, on or before 30 September 2017, for $11.4
million. As a result the Consideration paid at completion will be
$72.8 million. A further announcement will be made once the
Acquisition has been completed.
Following approval by Shareholders the Conditional Placing
Shares that comprise the Second Admission, as announced previously,
have been issued and allotted. Dealings in the Enlarged Share
Capital will commence on AIM at 8.00 am on 3 July 2017
("Admission").
At Admission the total voting rights of the Enlarged Share
Capital will be 145,076,087.
Diversified Gas & Oil PLC
Rusty Hutson Jr., Chief Executive
Officer
Brad Gray, Finance Director + 1 (205) 408
www.diversifiedgasandoil.com 0909
Smith & Williamson Corporate
Finance Limited
(Nominated Adviser & Joint Broker)
Russell Cook +44 (0)20 7131
Katy Birkin 4000
Mirabaud Securities LLP (Sole
Bookrunner & Lead Broker)
Peter Krens +44 (0)20 3167
Edward Haig-Thomas 7221
Buchanan (Financial Public Relations)
Ben Romney
Chris Judd
Henry Wilson
dgo@buchanan.uk.com +44 (0)20 7466 5000
Defined terms used in this announcement have the same meaning as
set out in the Company's Admission Document dated 16 June 2017.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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