Columbus Energy Res - Scheme sanctioned by Court
("Columbus" or the "Company")
Corporate Update - Court Sanction of Merger with Bahamas Petroleum Company plc
Columbus, the oil and gas producer and explorer focused on onshore
Subject to the Scheme becoming effective, it is expected that the admission to trading of
Conditions to the Scheme
Prior to the Court Sanction hearing, BPC notified the Company that it would not seek to invoke the Condition of the Scheme (as set out in paragraph 5 of Part III of the Scheme Document) related to the entry by the Company into the Goudron EPSC with Heritage prior to the date of the Court Sanction hearing. It is expected that the Goudron EPSC will be entered into in the ordinary course of business but until such time, BPC and the Company's management have agreed the delay in the issuance of 25,562,167 new BPC Shares due to the Company's management pursuant to their respective settlement and termination arrangements as set out in the Scheme Document.
The expected timetable of principal events for the implementation of the Scheme remains as set out on page 13 of the Scheme Document. If any of these dates and/or times change, a further announcement will be made.
Defined terms used but not defined in this announcement have the meaning given to them in the Scheme Document, a copy of which, is available on the Columbus website at www.columbus-erp.com.
"I would like to thank our shareholders for their support during the merger process and also thank the Columbus team and the BPC team for all their work in implementing the merger. I look forward to the new, enlarged BPC group progressing and growing our various assets across the
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
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