Desire Shareholders Approve Combination with FOGL

Source: www.gulfoilandgas.com 11/15/2013, Location: South America

FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands is pleased to note Desire's announcement that the requisite shareholder approvals have been obtained at both the Desire Court Meeting and Desire General Meeting held earlier in order for the proposed recommended Combination to proceed.

As announced earlier, the closing of the Combination remains subject to the satisfaction or (if capable of waiver) waiver of the remaining Conditions, including the sanction of the Scheme and confirmation of the associated capital reduction by the High Court of Justice of England and Wales and the receipt of any required approvals from the Falkland Islands Government.

The date of the Court hearing to sanction the Scheme and confirm the reduction of capital of Desire is expected to be 5 December 2013.

Terms and expressions used in this announcement shall, unless the context otherwise requires, have the same meanings as given to them in the FOGL Circular sent to the shareholders of FOGL on 23 October 2013.


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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 

Related Articles: 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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