NLG Arria Nlg Ords

RNS Number:1131S
LukOil (OAO)
03 October 2005


LUKOIL Overseas Holding Ltd. (LUKOIL) announces that it has entered into
agreements with Central Asian Industrial Holdings N.V., Energy Investments
International Ltd., Cott Holdings Group Ltd. and Center Finance Ltd.
(collectively, the Shareholders), as a result of which LUKOIL may be considered
to have beneficially acquired ownership of an aggregate of 584,643,162 common
shares (Subject Shares) of Nelson Resources Limited (Nelson), understood to be
approximately 66.3% of the issued and outstanding common shares (Shares) of
Nelson.

The Subject Shares include an aggregate of 566,393,162 issued and outstanding
Shares (understood to be approximately 65.6% of the issued and outstanding
Shares) and 18,250,000 Shares issuable upon the exercise of options held by
principals of the Shareholders. Pursuant to the agreements, each Shareholder has
agreed to vote in favour of, and/or tender in acceptance, its Subject Shares in
respect of a scheme of arrangement or amalgamation, merger, consolidation or
other business combination or a take-over bid or tender offer, pursuant to which
LUKOIL, directly or indirectly, will seek to acquire all of the issued and
outstanding Shares of Nelson for a cash price per Share equal to the quotient
of: US$2,000,000,000 divided by the sum of the number of issued and outstanding
Shares and the number of Shares of Nelson issuable pursuant to in-the-money
options and other rights to acquire Shares. In addition, pursuant to the
agreements and subject to the conditions set forth in the agreements, LUKOIL has
the right to acquire the Subject Shares for that same price per Share and the
Shareholders have the right to require LUKOIL to acquire the Subject Shares for
that same price per Share.

LUKOIL had no prior interest in securities of Nelson and does not act jointly
with any other person in this regard. LUKOIL has entered into the agreements
referred to above with the intention of pursuing a scheme of arrangement or
amalgamation, merger, consolidation or other business combination or a take-over
bid or tender offer, pursuant to which LUKOIL, directly or indirectly, will seek
to acquire all of the issued and outstanding Shares. Such intention may be
varied as circumstances arise, including the discontinuance of any such pursuit,
a non-exercise of the rights of acquisition described above and/or the
disposition by LUKOIL of all or a portion of its interests in the securities.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
OUPFGMGGDFDGKZM

Arria Nlg Ords (LSE:NLG)
Historical Stock Chart
From May 2024 to Jun 2024

Arria Nlg Ords (LSE:NLG)
Historical Stock Chart
From Jun 2023 to Jun 2024