First Calgary Petroleums Ltd. announces completion of acquisition by Eni S.p.A.
First Calgary Petroleums Ltd. announce that it has closed the plan of arrangement involving First Calgary, Eni Canada Holding Ltd., Eni S.p.A. and securityholders of First Calgary.
Under the terms of the arrangement, First Calgary shareholders receive C$3.60 cash for each common share held. In addition, on November 28, 2008 First Calgary will redeem all of its outstanding 9% convertible bonds. Bondholders will receive US$1,080 cash for each US$1,000 in aggregate face amount of outstanding bonds held plus accrued interest up to but excluding November 28, 2008.
Shareholders who hold their common shares through a broker or other financial intermediary will receive the amounts payable to them under the arrangement through such broker or other financial intermediary. Shareholders should contact their broker or other financial intermediary if they have any questions regarding this process.
Shareholders who hold their common shares in registered form will receive the amounts payable to them under the arrangement following the deposit of their share certificates with Computershare Investor Services Inc., the depositary for the arrangement in accordance with the instructions contained in the Letter of Transmittal previously sent to them. Any questions regarding payment of the purchase price, including any request for an additional copy of the Letter of Transmittal, should be directed to the depositary via telephone at 1-866-523-3444 (toll free in North America) or via email at corporateactions(at)computershare.com.
Pursuant to earlier announcements, the Company has applied for suspension of its common shares from trading on AIM with effect from 8:00 am (London time) on November 21, 2008, and cancellation of the admission of its common shares on AIM to take place on November 24, 2008. The Company’s common shares will be delisted from the Toronto Stock Exchange (TSX) within two to three business days of the TSX confirming receipt of all necessary documents in connection with the closing of the transaction.
