Geoex Ltd, a UK based multi-disciplinary geophysical and geological services company, launched on 19 January 2017 a voluntary offer to acquire all issued and outstanding shares in MultiClient Geophysical ASA at a consideration of NOK 1.20 per share, valuating the total share capital of MCG at NOK 111.4 million.
Completion of the Offer is subject to, inter alia, valid acceptances in respect of a number of shares of MultiClient Geophysical ASA ("MCG") which exceeds 90% of the shares and votes in MCG on a fully diluted basis being received; no change, effect, development or event that is or would reasonably be expected to have a material adverse effect on the financial condition, business assets, or results of operations of MCG group having occurred; and MCG having conducted its business in the ordinary course. The complete terms of the Offer are set out in an offer document dated 19 January 2017 and approved by the Oslo Stock Exchange
In connection with the Offer, shareholders in MCG holding approximately 51.74% of the shares outstanding, including majority shareholders Pareto Growth AS and certain members of MCG’s management and board of directors, have undertaken to accept the Offer for its shares in the Company, subject to certain conditions.
Aabø-Evensen & Co Advokatfirma AS is acting as legal advisors to Geoex Ltd in connection with the Offer.
Click here to be redirected to the full stock exchange notice published 19 January 2017.