Vaalco Energy Inc - Houston, Texas-based hydrocarbon explorer - Canadian courts give final approval for proposed business combination with TransGlobe Energy Corp.
Back in July, Vaalco agreed to an all-share merger with Calgary, Alberta-based TransGlobe. Vaalco shareholders will hold about 54.5% of the combined company, with shareholders of TransGlobe owning the remaining 45.5%.
TransGlobe expects shares to be cancelled on AIM on October 14.
Current Vaalco stock price: 482.00 pence
12-month change: up 61%
Current TransGlobe stock price: 280.00 pence
12-month change: up 26%
By Paul McGowan; paulmcgowan@alliancenews.com
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Vaalco Energy (EGY)