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Trident Unconditional, Equity and Drilling Update
Trident Unconditional, Equity and Drilling Update.
About this update from Quantum Helium Limited
[{"type":"text","content":"\n \nRNS Number : 8931R Mosman Oil and Gas Limited 17 September 2014 \n \n\n17 September 2014\nMosman Oil and Gas Limited\n(\"Mosman\" or the \"Company\")\n \nTrident Energy Limited Bid Unconditional\n \nApplication for Admission to AIM of Consideration Shares\n \nDrilling Update on Crestal-2\n \nMosman Oil and Gas Limited (AIM: MSMN), the New Zealand and Australia focused oil exploration and development company, is pleased to announce that as of 17 September, Mosman has received acceptances from Trident Energy Limited (\"Trident\") shareholders totalling 80.06% of the issued capital of Trident.\n \nFollowing this significant acceptance milestone, Mosman has today notified Trident that the Company has waived all remaining bid conditions in Section 10.10 of the Bidder's Statement and the Offer is now unconditional. As the Offer is unconditional Messrs Barr and Carroll will be be appointed to the Board of Trident, and Tridents operations will be moved to the Mosman office in Sydney.\n \nOn receipt of acceptances from Trident shareholders totalling more than 90% of the issued capital of Trident, under the Corporations Act 2001, Mosman has the right to compulsorily acquire all the remaining shares of Trident on the terms of the offer.\n \nThe offer closes on 17 October 2014 unless extended or withdrawn by the company.\n \nApplication for Admission to AIM of Consideration Shares\n \nUnder the terms and conditions of the Bidder's Statement Mosman must make an application for up to 2,892,978 Mosman Shares to be issued to acquire all of the issued share capital of Trident (the \"Consideration Shares\") to be admitted to trading on the AIM market of the London Stock Exchange plc (\"AIM\") and the Offer is conditional on these Consideration Shares being admitted to trading on AIM.\n \nAn application has been made to the London Stock Exchange for the Consideration Shares, which will rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM once the Consideration Shares have been issued and allotted.\n \nFollowing the issue of the maximum number of Consideration Shares the Company's total issued share capital could comprise 90,170,153 Ordinary Shares.\n \nCrestal-2 Drilling Update\n \nCrestal-2 was spudded on 16 S...