Business
Stratic Announces Court Approval of Proposed Plan of Arrangement with EnQuest PLC
Stratic Announces Court Approval of Proposed Plan of Arrangement with EnQuest PLC
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[{"type":"text","content":"\n\n\n\n Nov. 4, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nCALGARY AND LONDON, Nov. 4 /CNW/ - Stratic Energy Corporation (TSX\n Venture: 'SE', AIM: 'SE.') ("Stratic" or the "Company") announces that\n the Supreme Court of Yukon has today granted a final order approving\n the previously announced plan of arrangement (the "Arrangement") with\n EnQuest PLC ("EnQuest") under the Business Corporations Act (Yukon). The Arrangement provides for the acquisition by EnQuest of all\n of the issued and outstanding Stratic shares in exchange for ordinary\n shares of EnQuest on the basis of 0.089626 of an EnQuest share for each\n Stratic share. Today's court order follows the approval of the\n Arrangement by the Company's shareholders at a special meeting held on\n November 2, 2010.\n\n\nHaving now received all necessary shareholder, court and other approvals\n the Arrangement is scheduled to be completed after close of markets on\n November 5, 2010. Upon completion the Company will become a\n wholly-owned subsidiary of EnQuest and all Stratic shareholders will be\n entitled to receive EnQuest shares in exchange for their Stratic shares\n based on the exchange ratio of 0.089626 of an EnQuest share for each\n Stratic share. Accordingly, the Company has taken steps to cause the\n Stratic shares to be delisted from the TSX Venture Exchange and their\n admission to trading on the Alternative Investment Market ("AIM") of\n the London Stock E...