Challenger Energy Group PLC (AIM:CEG, OTCQB:BSHPF) has published the scheme document for its proposed £45 million all-share acquisition by Sintana Energy.
Shareholders will vote on the deal at meetings in the Isle of Man on 26 November, with proxy forms due by 24 November.
Independent directors, advised by Gneiss Energy, have recommended the offer as “fair and reasonable” and pledged support representing 7.25% of shares.
If approved, Challenger’s AIM listing will be cancelled around 10 December, and Sintana plans to list its enlarged share capital on AIM following completion.