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LequteMan
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Seplat petroleum development company has said it's no longer interested in making an offer for Afren, after the company's announcement that it has decided not to agree to Seplat's request for a timetable extension, Proshare reports.
Seplat had completed extensive due diligence on Afren and made a written proposal to the Board of Afren that provided critical and significant near-term liquidity and value for the stakeholders of Afren.
This announcement is made without Afren’s consent.
As a result of this announcement Seplat will, together with any party acting in concert with Seplat, be bound by the restrictions contained in Rule 2.8 of the Code which states that:
"Seplat reserves the right to announce an offer or possible offer or make or participate in an offer or possible offer for Afren (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code) within the next six months following the date of this announcement in the circumstances set out in Note 2 to Rule 2.8 or with the consent of the Panel on Takeovers and Mergers."
#Nigeria #Seplat #Afren
Seplat had completed extensive due diligence on Afren and made a written proposal to the Board of Afren that provided critical and significant near-term liquidity and value for the stakeholders of Afren.
This announcement is made without Afren’s consent.
As a result of this announcement Seplat will, together with any party acting in concert with Seplat, be bound by the restrictions contained in Rule 2.8 of the Code which states that:
"Seplat reserves the right to announce an offer or possible offer or make or participate in an offer or possible offer for Afren (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code) within the next six months following the date of this announcement in the circumstances set out in Note 2 to Rule 2.8 or with the consent of the Panel on Takeovers and Mergers."
#Nigeria #Seplat #Afren
