Business
Ensign Announces Successful Acquisition of 56.38 % of Trinidad Shares
Ensign Announces Successful Acquisition of 56.38 % of Trinidad Shares Canada NewsW...
About this update from Ensign Energy Services Inc.
[{"type":"text","content":"\n\n\n\nEnsign Announces Successful Acquisition of 56.38 % of Trinidad Shares\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 27, 2018\n\n\n\nTOGETHER WITH SHARES ALREADY OWNED ENSIGN CONTROLS 66.18% OF TRINIDAD ENSIGN MAKES MANDATORY EXTENSION OF OFFER\n CALGARY, Nov. 27, 2018 /CNW/ - Ensign Energy Services Inc. (TSX:ESI) (\"Ensign\") announced today that the conditions to its offer for Trinidad Shares at $1.68 per share (the \"Offer\") have been satisfied or waived and it has taken up the Trinidad Shares deposited to the Offer as of 10:00 a.m. on November 27, 2018.\nApproximately 56.38 per cent of the common shares (\"Trinidad Shares\") of Trinidad Drilling Ltd. (TSX: TDG) (\"Trinidad\") (154,111,528 Trinidad Shares) have been tendered to the Offer and have been taken up by Ensign satisfying the Statutory Minimum Condition being the tender to the Offer of more than 50% of the Trinidad Shares not owned or controlled by Ensign. Together with the 26,863,239 Trinidad Shares already owned by Ensign, this represents approximately 66.18 per cent of the issued and outstanding Trinidad Shares.\nHolders of Trinidad Shares (\"Trinidad Shareholders\") who have validly deposited and not withdrawn their Trinidad Shares need take no further action to accept the Offer. Trinidad Shareholders who tendered to the Offer will receive $1.68 cash for each Trinidad Share, which will be paid in accordance with the terms of the Offer. Ensign has taken up and accepted for payment all such deposited Trinidad Shares and will pay for such shares as soon as possible and in any event on or before November 29, 2018. If Trinidad Shares were tendered through brokers or financial intermediaries, holders of such Trinidad Shares will receive payment for their shares through their broker or financial intermediary.\nEnsign has determined to waive the condition of the Offer that there shall have been validly deposited pursuant to the Offer and not withdrawn that number of shares, together with the Trinidad Shares held by Ensign at 10:00 a.m. (T...