Centrica Buys A Further 12,606,463 Shares In Venture Production
August 24 2009 - 5:25AM
Dow Jones News
Centrica Resources (CNA.LN) said Monday that subject to
settlement it has purchased a further 12,606,463 Shares,
representing 8.4 per cent. of the share capital of Venture
Production (VPC.LN), at 845 pence per Share.
MAIN FACTS:
-As a result, Centrica Resources now owns or has acquired,
subject to settlement, a total of 59,993,691 Shares representing
approximately 40.1 per cent. of the existing issued share capital
of Venture.
-Accordingly, taking the acceptance level as at 1600 GMT on
August 21 and Centrica Resources' holding in Venture at the time of
this announcement, Centrica Resources either owns, has acquired
subject to settlement or has received valid acceptances of the
Offer in respect of a total of 75,301,966 Shares, representing in
aggregate 50.3 per cent. of the existing issued share capital of
Venture.
-The Offer is conditional solely on Centrica Resources having
received acceptances in respect of Shares which, together with
Shares acquired before or during the Offer, will result in Centrica
Resources and any person acting in concert (within the meaning of
the Code) with Centrica Resources holding, for the purposes of the
Code, Shares carrying more han 50 per cent. of the voting rights of
Venture.
-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.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
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