Prne
August 17th, 2009
CALGARY, Canada - Sinopec International Petroleum Exploration and Production Corporation (”Sinopec International”) is pleased to announce that it has paid for the common shares of Addax Petroleum Corporation (”Addax Petroleum”) that were validly deposited to and not withdrawn from the offer (the “Offer”) dated July 9, 2009 made by Mirror Lake Oil and Gas Company Limited (”Mirror Lake”), an indirect wholly-owned subsidiary of Sinopec International. As previously announced by Sinopec International, as of August 14, 2009, an aggregate of 153,734,120 Addax Petroleum common shares, representing approximately 92.67% of the Addax Petroleum common shares on a diluted basis, were tendered to the Offer.
In connection with the Offer, the board of directors of Addax Petroleum will be replaced by nominees of Sinopec International, with Mr. Jean Claude Gandur remaining as a director of Addax Petroleum.
As previously announced, Sinopec International has extended the expiration date of its Offer. The Offer, which originally was scheduled to expire on Friday, August 14, 2009, has been extended until 11:59 PM Toronto time, on Thursday, August 27, 2009.
Reader Advisory
This announcement is for informational purposes only and does not constitute or form part of any offer or invitation to purchase, acquire, subscribe for, sell, dispose of or issue, or any solicitation of an offer to sell, dispose, issue purchase, acquire or subscribe for any security. The Offer (including any variation or extension in accordance with applicable securities laws) is being made exclusively by means of, and subject to the terms and conditions set out in the Offer documentation to be delivered to Addax Petroleum shareholders and filed with the Canadian provincial securities regulators and the UK Listing Authority. Shareholders of Addax Petroleum should read these materials carefully as they contain important information, including the terms and conditions of the Offer. The Offer documentation is or will be available electronically without charge at www.sedar.com.
For further information: Sinopec International Petroleum Exploration and Production Corporation, Mr. Handong Rui, Email: hdrui(at)sipc.cn
Source: Sinopec International
For further information: Sinopec International Petroleum Exploration and Production Corporation, Mr. Handong Rui, Email: hdrui(at)sipc.cn
Filed under Business, Energy, Oil, Personnel Announcements | Tags: Calgary, canada, Sinopec International | Comment Below
Related Press Releases Sinopec International Takes up Additional Addax Petroleum Corporation SharesAugust 27th, 2009 CALGARY, Canada - Sinopec International Petroleum Exploration and Production Corporation ("Sinopec International") is pleased to announce that additional common shares of Addax Petroleum Corporation ("Addax Petroleum") have been tendered to the offer (the "Offer") dated July 9, 2009, as extended, made by Mirror Lake Oil and Gas Company Limited ("Mirror Lake"), an indirect wholly-owned subsidiary of Sinopec International. Mirror Lake has taken up all such additional Addax Petroleum common shares as of the expiry of the Offer on August 27, 2009 and has now taken up an aggregate of 162,947,508 Addax Petroleum common shares, representing approximately 98.22% of the Addax Petroleum common shares on a diluted basis. Sinopec International Takes Up Addax Petroleum Corporation Shares and Extends Tender Offer for Remaining SharesAugust 15th, 2009 BEIJING - Sinopec International Petroleum Exploration and Production Corporation ("Sinopec International") is pleased to announce that 153,734,120 common shares of Addax Petroleum Corporation ("Addax Petroleum"), which represent approximately 92.67% of the Addax Petroleum common shares on a diluted basis, have been tendered to the offer (the "Offer") dated July 9, 2009 made by Mirror Lake Oil and Gas Company Limited ("Mirror Lake"), an indirect wholly-owned subsidiary of Sinopec International. Since all of the conditions to the Offer have been satisfied, Mirror Lake has taken up all of the Addax Petroleum common shares tendered to the Offer as of this date. Addax Petroleum Announces Sinopec's Receipt of Approvals From The People's Republic of ChinaAugust 9th, 2009 CALGARY, Canada - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC) today announced that it has received confirmation from Sinopec International Petroleum Exploration and Production Corporation ("SIPC") that it has obtained all approvals required from the relevant Government Entities of The People's Republic of China ("PRC Approvals") in order for SIPC and Mirror Lake Oil and Gas Company Limited ("Mirror Lake"), an indirect wholly-owned subsidiary of SIPC, to complete the acquisition of Addax Petroleum. SIPC has also confirmed that receipt of the PRC Approvals satisfies the condition to the offer for Addax Petroleum dated July 9, 2009 (the "Offer") made by Mirror Lake that the PRC Approvals be obtained. Addax Petroleum Announces Receipt of Letter From Kurdistan Regional Government of IraqJuly 21st, 2009 CALGARY, Canada - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC), today announced that it has received a letter (the "KRG Letter") from the Minister of Natural Resources of the Kurdistan Regional Government (the "KRG") and has confirmation from Sinopec International Petroleum Exploration and Production Corporation ("SIPC") that receipt of this letter satisfies the condition to the offer for Addax Petroleum dated July 9, 2009 (the "Offer") made by Mirror Lake Oil and Gas Company Limited, an indirect wholly-owned subsidiary of SIPC, that Addax Petroleum obtain the KRG Letter. The Offer is subject to a number of conditions including valid acceptances by holders of not less than 66 2/3 per cent of Addax Petroleum shares on a fully diluted basis and receipt of certain regulatory approvals, including the government of The People's Republic of China. Sinopec Commences Take-over bid for Addax PetroleumJuly 8th, 2009 CALGARY, Canada - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") ( TSX: AXC and LSE: AXC), today announced that Mirror Lake Oil and Gas Company Limited ("Mirror Lake"), an indirect wholly-owned subsidiary of Sinopec International Petroleum Exploration and Production Corporation ("SIPC"), has today commenced its offer for Addax Petroleum (the "Offer") and mailed the Offer and take-over bid circular (the "Offer Documentation") as well as the Addax Petroleum directors' circular, containing the Addax Petroleum board's unanimous recommendation to accept the Offer, to Addax Petroleum shareholders. On June 24, 2009, SIPC and Addax Petroleum reached an agreement for Mirror Lake to make an offer to acquire all of Addax Petroleum's outstanding common shares for C$52.80 per common share in an all-cash transaction. Addax Petroleum Announces C$52.80 per Share Cash Offer by Sinopec International Petroleum Exploration and Production CorporationJune 23rd, 2009 CALGARY - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC) announced today that it has entered into a definitive agreement (the "Support Agreement") with Sinopec International Petroleum Exploration and Production Corporation ("SIPC") pursuant to which SIPC has agreed, subject to the terms of the Support Agreement, to make an offer to acquire all of the outstanding common shares of Addax Petroleum by way of a negotiated take-over bid (the "Offer") for C$52.80 per common share in cash. The Offer represents a 47% premium to the closing market price on the TSX of the Addax Petroleum common shares on June 5, 2009, the day prior to Addax Petroleum's public announcement that it was in preliminary discussions with parties regarding a potential transaction. Addax Petroleum Corporation - Change to Record Date for DividendMay 27th, 2009 CALGARY - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC) announces that, further to the dividend declaration in the news release issued on May 13, 2008, the dividend record date has been changed to Monday, June 8, 2009. The dividend payment date of June 18, 2009 remains unchanged. Addax Petroleum Presents at Upcoming ConferencesMay 27th, 2009 CALGARY, Canada - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC) announces that Mr. Jean Claude Gandur, President and Chief Executive Officer, will be presenting at the Credit Suisse London Oil & Gas Conference 2009 on Tuesday, June 2, 2009 at approximately 2:30 p.m. Addax Petroleum First Quarter 2009 Conference CallMay 5th, 2009 CALGARY, Canada - Addax Petroleum Corporation (TSX: AXC and LSE: AXC) ("Addax Petroleum" or the "Corporation") will announce its financial results for the quarter ended March 31, 2009 on Wednesday, May 13, 2009, and will discuss its financial results in a conference call on Wednesday, May 13, 2009 at 11:00 a.m. Eastern Time / 4:00 p.m. Addax Petroleum Presents at Upcoming UBS European Mid-Cap Oil ConferenceMarch 19th, 2009 CALGARY, Canada - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation")
(TSX: AXC and LSE: AXC) announces that Mr. Jean Claude Gandur, President and
Chief Executive Officer, will be presenting at the UBS European Mid-Cap Oil
Conference in London, U.K.
Related News Chinese refiner Sinopec to buy Canada's Addax Petroleum for $7.2 billionJune 24th, 2009 China's Sinopec to acquire Addax Petroleum for $7BCALGARY, Alberta — Canadian oil and gas exploration company Addax Petroleum Corp says that it has agreed to be acquired by Chinese refiner Sinopec in a deal valued at $8.27 billion Canadian (US$7.2 billion). The wholly owned subsidiary of China Petrochemical Corp. Sinopec acquires Addax Petroleum for $7.5 billion in China's biggest foreign takeoverAugust 18th, 2009 Sinopec completes China's biggest foreign takeoverBEIJING — Sinopec Group said Tuesday it has completed its $7.5 billion acquisition of Addax Petroleum, obtaining new reserves in Africa and the Middle East in China's biggest foreign corporate takeover to date. State-owned Sinopec Group is the parent of Sinopec Corp., also known as China Petroleum & Chemical Corp., Asia's biggest refiner by volume. Chinese oil giant takes over Swiss firmAugust 18th, 2009 BEIJING - China's largest oil refinery Sinopec has taken over the Geneva-based oil and gas producer Addax Petroleum Corp., company officials said Tuesday. Sinopec purchased the Swiss oil company for around $7.5 billion. Chinese refiner Sinopec to buy Canada's Addax PetroleumJune 24th, 2009 China's Sinopec to acquire Addax PetroleumCALGARY, Alberta — Chinese refiner Sinopec agreed to acquire oil and gas exploration company Addax Petroleum Corp. in a deal valued at $8.27 billion Canadian (US$7.2 billion), gaining access to reserves in West Africa and the Middle East. Reports: Chinese refiner Sinopec mulling takeover of Addax Petroleum, in latest overseas bidJune 9th, 2009 Reports: China's Sinopec mulling takeover of AddaxSHANGHAI — Chinese refiner Sinopec is in preliminary talks on acquiring Canadian oil and gas exploration company Addax Petroleum Corp., reports said Tuesday. The potential takeover bid is the latest effort by Chinese energy and resource companies to expand and diversify overseas assets as Beijing seeks to secure resources for the country's future growth. China's Sinopec puts up $7.2 billion for Addax Petroleum; largest overseas bid so farJune 24th, 2009 China's Sinopec makes $7.2B grab for AddaxTORONTO — China's Sinopec will acquire oil explorer Addax Petroleum for $7.2 billion, again flexing the country's economic clout in what would be the largest overseas takeover ever by a Chinese company. China has been aggressively pursuing major acquisitions or investments in commodity companies and the push-back from other countries has just as forceful. Petroleum Development names James Trimble to board of directors, increasing board membersSeptember 18th, 2009 Petroleum Development names James Trimble to boardDENVER — Oil and gas company Petroleum Development Corp. said Friday it appointed James Trimble to its board of directors, effective Sept. China's Sinopec seeks crucial capacity, coveted reserves with $7.2B Addax bidJune 25th, 2009 Sinopec seeks capacity, reserves with Addax bidSHANGHAI — Sinopec, with its $7.2 billion bid for Addax Petroleum, is seeking crucial production capacity and coveted reserves in West Africa and the Middle East to help balance its heavy reliance on crude oil processing. News that Addax's board had approved the offer by Sinopec, formally known as China Petroleum & Chemical Corp., helped push the Beijing-based company's shares up more than 2 percent Thursday, though they later fell back to close just 0.4 percent higher at 10.56 yuan. Energy company Petroleum Development prices shares of stock offering at $12August 12th, 2009 Petroleum Development prices shares at $12DENVER — Oil and gas company Petroleum Development Corp. said Wednesday that it has priced its offering of nearly 3.8 million shares of common stock at $12 per share. China Investment to buy $1.5B stake in mining giant Teck ResourcesJuly 3rd, 2009 China Investment buying stake in Teck ResourcesTORONTO — Mining company Teck Resources Ltd. said Friday it is selling a 17 percent stake to China Investment Corp.
|
|
