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Final Regulatory Approval for Acquisition of Ca...
Final Regulatory Approval for Acquisition of Ca....
About this update from Corcel Plc
[{"type":"text","content":"\n \nFinal Regulatory Approval Received for Acquisition of Caracal by Glencore\n\nCALGARY, July 2, 2014 /CNW/ - Caracal Energy Inc. (\"Caracal\" or the \"Company\")\n(LSE:CRCL) announced today that Glencore plc (\"Glencore\") has received\nInvestment Canada Act approval in connection with the plan of arrangement to\neffect the acquisition of all the issued and outstanding common shares of\nCaracal by a wholly owned subsidiary of Glencore (the \"Arrangement\").\n\nInvestment Canada Act approval was the final outstanding regulatory approval\nwith respect to the Arrangement. Accordingly, Caracal now expects the effective\ndate of the Arrangement to be July 8, 2014 (the \"Effective Date\"). On the\nEffective Date, Glencore will release the funds to be subsequently paid to\nshareholders and holders of depositary interests (\"DI Holders\") as described\nunder the heading \"Information for shareholders and DI Holders\" below.\n\nInformation for shareholders and DI Holders\n\nShareholders will be entitled to receive payment of £5.50 per common share in\ncash (the \"Consideration\") following the Effective Date. Shareholders will\nreceive U.S. dollars unless an election is made on a Letter of Transmittal to\nreceive payment in Canadian dollars or pounds sterling.\n\nRegistered shareholders are required to submit a Letter of Transmittal to\nComputershare Trust Company of Canada, together with the certificate(s)\nrepresenting common shares of Caracal and all other required documents. For a\nreplacement Letter of Transmittal, contact Computershare Trust Company of\nCanada toll free at 1-800-564-6253. Registered shareholders must make their\ncurrency election in the Letter of Transmittal by no later than 5:00 p.m.\n(Toronto Time) on July 9, 2014. Non-registered shareholders should contact\ntheir broker, trustee, financial institution, custodian, nominee or other\nintermediary to confirm matters relating to payment of the Consideration, or if\nthey wish to elect to receive Canadian dollars or pounds sterling.\n\nDI Holders can elect to receive payment in U.S. dollars. If no election is\nmade, DI Holders will be deemed to have elected to receive payment in pounds\nsterling. DI Holders must submit their currency election through the CREST\nsystem by no later than 5:00 p.m. (London Time) on July 9, 2014.\n\nThe exchange rate that will be used t...