Venture Production Advises Holders To Accept Centrica Offer
August 25 2009 - 6:34AM
Dow Jones News
Venture Production PLC (VPC.LN) said Tuesday it reccommends
shareholders to accep the offer fromo Centrica (CNA.LN).
MAIN FACTS:
-The Board of Venture continues to believe that Centrica's final
offer substantially undervalues Venture.
-However, the Board recognises that, in the event that the Offer
is declared wholly unconditional, Centrica will have control of
Venture.
-Furthermore, should Centrica receive acceptances which result
in Centrica holding 75 per cent or more of Venture's shares,
Centrica's stated intention is to procure that Venture applies to
the U.K. Listing Authority for the cancellation of its listing on
the Official List and to the London Stock Exchange for the
cancellation of its admission to trading.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
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