RE: Strange31 Oct 2024 09:09
I’ve had another RNS come up on my feed from GTE that seems to explain what is going to happen
SCHEME OF ARRANGEMENT BECOMES EFFECTIVE
On 19 August 2024, the boards of directors of i3 Energy and Gran Tierra announced that they had reached agreement on the terms of a recommended and final cash and share acquisition of the entire issued, and to be issued, share capital of i3 Energy (the "Acquisition"). The Acquisition is being implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.
i3 Energy published a circular in relation to the Scheme dated 29 August 2024 (the "Scheme Document").
On 29 October 2024, i3 Energy announced that the Court had sanctioned the Scheme at the Sanction Hearing held on 29 October 2024.
i3 Energy and Gran Tierra are pleased to announce that, following delivery of the Court Order to the Registrar of Companies and satisfaction or waiver of all of the conditions set out in the Scheme Document, the Scheme has now become Effective in accordance with its terms and, pursuant to the Scheme, the entire issued and to be issued share capital of i3 Energy is now owned by Gran Tierra.
Consideration
A Scheme Shareholder on the register of members of i3 Energy at the Scheme Record Time, being 6.00 p.m. on 30 October 2024, will be entitled to receive one New Gran Tierra Share per every 207 i3 Energy Shares held and 10.43 pence cash per i3 Energy Share subject to any adjustments to such consideration resulting from valid Elections made under the Mix and Match Facility. For Scheme Shareholders holding Scheme Shares in certificated form, settlement of the consideration will be effected by electronic payment or (for those Scheme Shareholders who have not set up an electronic payment mandate) by the despatch of cheques. For Scheme Shareholders holding Scheme Shares in uncertificated form, settlement of consideration will be effected by the crediting of CREST or CDS accounts, as applicable. In each case settlement of consideration will occur as soon as practicable and in any event not later than 14 days after the date of this announcement, being 14 November 2024.
Further to the announcement on 7 October 2024, i3 Energy confirms that, the Scheme having become Effective, the Acquisition Dividend totalling £3,084,278 will be paid as follows:
Dividend:
0.2565 pence / i3 Energy Share
Record Date:
6.00 p.m. on 30 October 2024
Payment date:
by 13 November 2024
i3 Energy admission to listing on AIM
An application was made for the suspension of admission to trading in i3 Energy Shares on the London Stock Exchange's AIM Market ("AIM") and such suspension has taken effect from 7.30 a.m. today. The cancellation of the admission to trading of the i3 Energy Shares on AIM has been applied for and is expected to take place by 8.00 a.m. on 1 November 2024. The delisting of the i3 Energy Shares on the Toronto Stock Exchange has been applied for and is
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