LONDON, Dec 23 (Reuters) - Falkland-based shareholders ofoil explorer Falkland Oil and Gas have only days toreview a takeover offer from Rockhopper and vote on itdue to transport problems delaying the delivery of legal papersto the remote islands.
Shareholders who reside on the Falkland Islands, the southAtlantic islands located 500 kilometres off the south Americancoast, will receive documents on Dec. 26, only days before adeadline for submitting votes on the all-share takeover offerthat values the company at $85 million.
"There has been a delay in the documentation reaching theFalkland Islands," the AIM-listed company said in a statement.
The documents were sent on Dec. 11, but due to weightrestrictions they were held up in Chile, a spokesman said.
Shareholders voting by proxy, because they cannot attend thegeneral meeting in person, face a Dec. 31 deadline to submitvotes to lawyers based in the Falkland Islands.
The shareholder meeting will take place on Jan. 5 in London.
The oil and gas exploration company has come under pressurefrom the steep drop in oil prices and an unsuccessful welldrilled at Humpback in the Falklands, a British overseasterritory, in late October.
As part of the takeover, FOGL shareholders will own around35 percent of the enlarged Rockhopper company.($1 = 0.6734 pounds) (Reporting by Karolin Schaps, editing by Louise Heavens)