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Sintana Energy Inc. Announces Scheme of Arrangement Becomes Effective
TORONTO, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Sintana Energy Inc. (TSX-V: SEI, OTCQX: SEUSF) (ȁ...
About this update from Sintana Energy Inc.
[{"type":"text","content":"Sintana Energy Inc. Announces Scheme of Arrangement Becomes Effective\n\n\n\n TORONTO, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Sintana Energy Inc. (TSX-V: SEI, OTCQX: SEUSF) (“\n \n Sintana\n \n ” or the “\n \n Company\n \n ”) is pleased to provide the following update that on 12 December 2025, Challenger announced that the recommended acquisition by Sintana (TSXV:SEI) of the entire issued and to be issued ordinary share capital of Challenger (the \"\n \n Acquisition\n \n \") to be implemented by way of a Court-sanctioned scheme of arrangement under Part IV (section 152) of the Isle of Man Companies Act 1931 as amended from time to time (the “\n \n Scheme\n \n ”), which was announced by Challenger and Sintana on 9 October 2025, had been sanctioned by the Court on 12 December 2025.\n \n\n Challenger and Sintana are pleased to announce that earlier today, an office copy of the Court Order sanctioning the Scheme was delivered to the Isle of Man Companies Registry. All of the conditions set out in the circular in relation to the Scheme (the “\n \n Scheme Document\n \n ”), which was sent to Challenger Shareholders on 3 November 2025 have now been satisfied or (if capable of waiver) waived, and, accordingly, the Scheme has now become Effective in accordance with its terms and the entire issued ordinary share capital of Challenger is now owned by Sintana.\n \n\n Terms used but not otherwise defined in this announcement shall have the meanings given to them in the Scheme Document. All references to times in this announcement are to London, United Kingdom times unless stated otherwise.\n \n\n\n\n Consideration\n \n\n\n\n A Scheme Shareholder on the register of members at the Scheme Record Time, being 6:00 p.m. on 15 December 2025, will be entitled to receive 0.4705 New Sintana Shares for each Challenger Share held (the “\n \n Consideration\n \n ”).\n \n\n In the case of Scheme Shareholders who held their Scheme Shares in certificated form immediately prior to the Scheme Record Time, Sintana shall procure that the entitlement to New Sintana Shares shall be effected by the despatch of Direct Registration System statements by the Transfer Agent representing the New Sintana Shares to which the relevant Scheme Shareholder is entitled.\n \n\n In the case of Scheme Shareholders who...