DONE 70.25%21 Apr 2017 14:34
TEL AVIV, ISRAEL--(Marketwired - April 21, 2017) - Delek Group Ltd. ("Delek"), and its wholly-owned subsidiary, DKL Investments Limited (the "Offeror"), today announced that the offer to acquire all of the issued and to be issued common shares ("Common Shares") of Ithaca Energy Inc. ("Ithaca") not currently owned by the Offeror or any of its affiliates for C$1.95 per Common Share (the "Offer") has been accepted by holders of Common Shares representing approximately 70.25% of the total number of Common Shares outstanding, excluding those beneficially owned, or over which control or direction is exercised, by the Offeror and its affiliates and associates and any person acting jointly or in concert with the Offeror. As such, the minimum tender requirement under applicable Canadian securities laws has been satisfied and all other conditions to the Offer have been satisfied.
Computershare Trust Company of Canada (the "Depositary") has reported that as at 5:00 p.m. (Toronto time) on April 20, 2017 the expiry of the initial deposit period of the Offer, a total of 241,293,465 Common Shares were validly deposited under the Offer and not withdrawn. The Offeror has taken up and accepted for payment all such Common Shares. Payment of C$470,522,256.75, in the aggregate, for such Common Shares is expected to be made to the Depositary as soon as possible and in any event not later than April 25, 2017. If Common Shares were tendered through brokers or financial intermediaries, holders of such Common Shares will receive payment for their shares through their broker or financial intermediary.
The Offer is being extended for the mandatory extension period until 5:00 p.m. (Toronto time) on May 3, 2017, unless further extended, to allow Ithaca shareholders who have not yet tendered their Common Shares to the Offer an opportunity to do so.
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