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Pacific Rubiales Comments on the O'Hara Circular and Files an Application to Exclude O'Hara Group From Voting Common Shares Acquired in Apparent Violation of Securities Laws
Pacific Rubiales Comments on the O'Hara Circular and Files an Application to Exclude O'Hara Group From Voting Common Shares Acquired in Apparent Violation of Securities Laws.
About this update from Prestige Cars International, Inc.
[{"type":"text","content":"\n\n\n\nPacific Rubiales Comments on the O'Hara Circular and Files an Application to Exclude O'Hara Group From Voting Common Shares Acquired in Apparent Violation of Securities Laws\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\nPacific Rubiales Comments on the O'Hara Circular and Files an Application to Exclude O'Hara Group From Voting Common Shares Acquired in Apparent Violation of Securities Laws\nCanada NewsWire\nTORONTO, June 18, 2015\n\n\n\nTORONTO, June 18, 2015 /CNW/ - Pacific Rubiales Energy Corp. (TSX: PRE) (BVC: PREC) today announced that, after receiving approval from the Independent Committee of the Board of Directors, the Company is filing an application (the \"Application\") before the Supreme Court of British Columbia (the \"Court\") in connection with the proposed arrangement involving the Company, ALFA, S.A.B. de C.V. (\"ALFA\"), Harbour Energy, L.P., Harbour Energy Ltd. (\"Harbour Energy\") and 1035815 B.C. Ltd. (the \"Purchaser\"), pursuant to which the Purchaser would acquire all of the outstanding common shares of the Company (\"Common Shares\") not already owned by ALFA or held by the Company in treasury for cash consideration of C$6.50 per share (the \"Arrangement\"). The Application is being filed in response to significant concerns raised by Pacific Rubiales shareholders about how members of a group of Shareholders acting jointly and in concert led by O'Hara Administration Co., S.A. (\"O'Hara\") and Alejandro Betancourt (collectively, the \"O'Hara Group\") acquired their Common Shares.\n\nThe Company also responded today to a dissident proxy circular filed by O'Hara that continues to provide no plan and no alternative to the 81% premium all-cash offer presented by ALFA and Harbour Energy. The Company intends to deliver a letter to Shareholders providing more information in connection with the O'Hara circular.\n\nApplication to Disqualify 6.74% of all Common Shares\n\nThe Application seeks to have any votes attached to 21,292,291 Common Shares (representing approximately 6.74% of all Common Shares) held by the O'Hara Group disregarded ...