Babbler211 May 2015 16:39
The Executive has been told that the voting rights notification was made by Mrs Williams as a result of purchases on 29 April and 30 April of, in aggregate, 342,328,669 NWOG shares through her broker on a T+2 settlement basis and that the highest price paid was 0.08p per share. However, at the time of this Statement, a substantial proportion of those shares has not yet settled.
In the light of the above, the Executive has, exceptionally, ruled that, for the purposes of the Takeover Code, Mrs Williams will only be treated as interested in the shares that she has purchased in the event of their delivery into the CREST account of her broker.
The Executive has also ruled that, in the event that Mrs Williams receives delivery of shares which carry 30% or more of the voting rights of NWOG, she will then have an obligation to extend an offer, on the basis of Rules 9.3, 9.4 and 9.5 of the Code, to the shareholders of NWOG and that an offer period will then commence in relation to NWOG.
The Executive has further ruled that Rule 4.2(a) of the Code will not apply to Mrs Williams, and she will therefore not be restricted from selling any NWOG shares, unless and until an offer period commences in relation to NWOG.
Mr Williams, on behalf of Mrs Williams, and NWOG have accepted this ruling.
11 May ...they could of told this before the rise....impho..pi's shafted..?