Tullow Oil Opens Share Offer on Ghana Stock Exchange

Source: www.gulfoilandgas.com 6/13/2011, Location: Africa

Tullow Oil plc announces that it has opened its offer for 4,000,000 Tullow shares to be listed on the Ghana Stock Exchange (GSE) at an offer price of 31 Ghana Cedi per share and that the offer prospectus and application forms have been published. The offer price represents a 2.57% discount to the closing price of a Tullow share on the London Stock Exchange on 10 June 2011.

Offer Shares can be applied for between 13 June 2011 and 4 July 2011 in Ghana through Tullow's sponsoring broker, IC Securities (Ghana) Limited. Offer Shares can also be applied for by visiting any branch of Standard Chartered Bank Ghana Limited or selected branches of Agricultural Development Bank in Ghana or the office of any of the authorised receiving agents. It is expected that admission of the Offer Shares to the GSE (GSE Admission) will take place on 27 July 2011. The offer of Tullow shares on the GSE will give investors the opportunity to share in the future performance of Tullow's operations in Ghana and more broadly across its global portfolio of assets. This listing and share offer further demonstrates Tullow's long-term commitment to Ghana. Any decision to invest in Offer Shares should only be made on the basis of information set out in the offer prospectus.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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