Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Eurasia Drilling Co Ltd
  6. News
  7. Summary
       US29843U2024

EURASIA DRILLING CO LTD

SummaryNewsCompany 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Eurasia Drilling : Update on Dissenters pursuant to Merger

02/22/2016 | 06:48am EST

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

22 February 2016

EURASIA DRILLING COMPANY LIMITED

UPDATE ON DISSENTERS PURSUANT TO MERGER

Eurasia Drilling Company Limited (the 'Company') announces an update on the process it is involved in, with those parties that dissented to the merger completed by the Company on 16 November 2015 ('Merger'), and who instead opted to have the Grand Court of the Cayman Islands (the 'Court') reach its determination as to the fair value of the shares held by them ('Dissenters').

On 3rd February 2016, and in accordance with its obligations under the Companies Law of the Cayman Islands (2013 Revision) the Company issued a petition in the Court which has commenced proceedings with those Dissenters who had not reached a settlement with the Company at that time (the 'Respondents'). The Respondents held a total of 7,319,426 GDRs equating to 4.6% of total issued and outstanding shares in the Company prior to the Merger. The Respondents are able to settle with the Company at any time during the Court process, which could take up to a year.

***

Enquiries:

Eurasia Drilling Company Limited

Tom O'Gallagher, VP Investor Relations

+44 (0) 207 717 9707

investors.relations@eurasiadrilling.com

Hudson Sander (media enquiries for the Company)

Andrew Hayes / Elena Garside

+44(0) 20 7796 4133

***

Previous: 29 January 2016: Update on Dissenters pursuant to Merger

Eurasia Drilling Co. Ltd. issued this content on 22 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 February 2016 11:47:15 UTC

Original Document: http://www.eurasiadrilling.com/media-centre/news-releases/2016/2/22/update-on-dissenters-pursuant-to-merger/


ę Publicnow 2016
All news about EURASIA DRILLING CO LTD
2017Saudi Arabia to consider investing in Russia's Eurasia Drilling - TASS
RE
2017Russia, China, UAE funds agree Eurasia Drilling investment
RE
2016EURASIA DRILLING : Update on Dissenters pursuant to Merger
PU
2016EURASIA DRILLING : Update on Dissenters pursuant to Merger
PU
2015EURASIA DRILLING : Notice of Cancellation of Listing from the Official List (LSE)
PU
2015EURASIA DRILLING : Completion of Merger and Notice of DeListing
PU
2015EURASIA DRILLING : Results of Extraordinary General Meeting - Confirmation of Vote
PU
2015EURASIA DRILLING : Results of Extraordinary General Meeting and Approval of Merger
PU
2015EURASIA DRILLING : Outlook 2016
PU
2015EURASIA DRILLING : Early Termination of SATURN's Contract
PU
More news
Managers and Directors
Alexander Djaparidze Chief Executive Officer & Director
Murat Sampiev President & Chief Operating Officer
Taleh Aleskerov Chief Financial Officer & Director
Alexander Nikolaevich Shokhin Chairman
Kypros Chrysostomides Director
Sector and Competitors