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MERIDIAN CAPITAL INTERNATIONAL LIMITED ANNOUNCES DISPOSITION OF COMMON SHARES OF PETROTAL CORP. TO A. ALSHINBAYEV
MERIDIAN CAPITAL INTERNATIONAL LIMITED ANNOUNCES DISPOSITION OF COMMON SHARES OF PETROTAL CORP. T...
About this update from Petrotal Corp.
[{"type":"text","content":"\n \n \n \n MERIDIAN CAPITAL INTERNATIONAL LIMITED ANNOUNCES DISPOSITION OF COMMON SHARES OF PETROTAL CORP. TO A. ALSHINBAYEV\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n HONG KONG\n \n \n ,\n \n \n May 16, 2023\n \n \n /CNW/ - Meridian Capital International Limited (\"\n \n MCIL\n \n \") reports that, on\n \n April 25, 2023\n \n , MCIL transferred ownership and control of 66,267,240 common shares (the \"\n \n Common Shares\n \n \") of PetroTal Corp. (\"\n \n PetroTal\n \n \") (TSXV: TAL) (AIM: PTAL) to Meridian Capital Limited (\"\n \n MCL\n \n \") by way of a dividend in-kind (the \"\n \n Initial Transfer\n \n \"). On\n \n April 25, 2023\n \n , MCL subsequently transferred ownership and control of the 66,267,240 Common Shares to one of its shareholders, A. Alshinbayev, pursuant to a private arrangement between Mr. Alshinbayev and MCL for an aggregate purchase price of\n \n USD28,202,240.14\n \n (the \"\n \n Second Transfer\n \n \"). Neither the Initial Transfer nor the Second Transfer took place through the facilities of any stock exchange or any other marketplace.\n \n \n Immediately prior to the Initial Transfer, MCIL owned 154,010,361 Common Shares, representing approximately 17.4% of the issued and outstanding Common Shares of PetroTal on a non-diluted basis. Following the Initial Transfer, MCIL owned 87,743,121 Common Shares, representing approximately 9.9% of the issued and outstanding Common Shares of PetroTal on a non-diluted basis. As a result of the Initial Transfer, MCIL is no longer subject to the 10.0% threshold requiring disclosure under National Instrument 62-103 –\n \n The Early Warning System and Related Take-Over Bid and Insider Reporting Issues\n \n (\"\n \n NI 62-103\n \n \").\n \n \n Immediately prior to the Second Transfer, MCL owned 66,267,240 Common Shares, representing approximately 7.5% of the issued and outstanding Common Shares of PetroTal on a non-diluted basis, all of which were transferred to Mr. Alshinbayev pursuant to the Second Transfer. Following the Second Transfer, MCL no lon...