Proactive Investors - Run By Investors For Investors

Chagala shareholders back takeover offer from Realty Invest Holding

The Caspian-focused oil & gas services provider said it had received acceptances representing 67.08% of the company’s share capital
Approval stamp
RIH initially made the US$2.15 per share offer at the beginning of September

The majority of shareholders in Chagala Group Limited (LON:CGLO) have backed a takeover offer from Kazakhstan-based firm Realty Invest Holding LLP (RIH), and the offer period for acceptance has been closed.

The Caspian-focused oil & gas services provider said it had received acceptances representing 67.08% of the company’s share capital, with RIH having acquired that percentage at a price of US$2.15 per share.

READ: Chagala receives takeover offer valuing Kazakh accommodation firm at US$46mln

RIH initially made the offer at the beginning of September, with its bid 39% higher than a previous bid of US$1.55 put forward by Asian Investment Management earlier this summer.

As a result of the takeover, the existing directors of Chagala agreed to appoint Borko Moric and Bojan Moric as new directors of the company, effective from 11 October.

View full CGLO profile View Profile

Chagala Group Timeline

Newswire
December 06 2017

Related Articles

Kazakhstan
November 20 2018
Borko Moric will succeed Parilla as chief executive officer. Bojan Moric will become the company's chief operations officer
Platinum
January 04 2019
In its outlook for 2019, the firm said the focus was now “not only on continuous improvements in feed grade and recoveries but on expanding the business into new jurisdictions”

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use