Centrica Final Cash Offer Of 845P Per Share For Venture
August 13 2009 - 1:06PM
Dow Jones News
Centrica PLC (CNA.LN), an integrated energy company said
Thursday that it made a final cash offer to acquire the entire
issued (and to be issued) share capital of Venture Production
(VPC.LN), not already held by it, at an offer price of 845 pence
per share.
MAIN FACTS:
-The offer is final and will not be increased, except that
Centrica Resources reserves the right to revise and/or increase the
offer if a competitive situation arises.
- As at 1200GMT on Aug. 13 (being the first closing date of the
Offer), Centrica had received valid acceptances in respect of
16,266,374 Shares, representing 10.9% of the current issued share
capital of Venture and 9.4% of the ordinary share capital of
Venture on a fully diluted basis.
-Centrica already owns 44,781,179 shares representing 29.9% of
the current issued share capital of Venture and 25.8% of the
ordinary share capital of Venture on a fully diluted basis.
-Accordingly, as at 12000GMT on Aug 13, Centrica either owned or
had received valid acceptances of the Offer in respect of a total
of 61,047,553 shares, representing in aggregate 40.8% of the issued
share capital of Venture and 35.2% of the ordinary share capital of
Venture on a fully diluted basis.
-Centrica further announces that the offer, which remains
subject to the terms and conditions set out or referred to in the
offer document posted to shareholders is being extended and will
remain open for acceptance until the next closing date which will
be 1200GMT on Aug. 28.
-Any further extensions of the offer period will be publicly
announced no later than 8.00 a.m. on the Business Day following the
date on which the Offer was otherwise due to expire, or such later
date or time as the Panel may agree.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
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