Prne
August 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. Sinopec International would also like to announce that it has extended the expiration date of its Offer pursuant to a provision of the Acquisition Agreement entered into in connection with the Offer that requires Mirror Lake to extend the Offer for at least one 10 day period in order to permit Addax Petroleum shareholders (such as holders of Addax Petroleum common shares under the long term equity incentive plan of Addax Petroleum or on conversion of the convertible bonds of Addax Petroleum) that have not tendered their Addax Petroleum common shares to accept the Offer and tender their Addax Petroleum common shares. The Offer, which was scheduled to expire at 7:00 PM Toronto time, 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@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 Banking and Financial Services, Chemical, Energy, Gas, Offerings, Oil | Tags: Beijing, China, 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 Pays for Addax Petroleum Corporation Shares and Will Appoint New Addax Petroleum Board of DirectorsAugust 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. 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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 the Regulatory Filing of the C$52.80 Per Share Cash Offer by Sinopec International Petroleum Exploration and Production CorporationJune 24th, 2009 CALGARY, Canada - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC) announced today that the definitive agreement (the "Acquisition Agreement") with Sinopec International Petroleum Exploration and Production Corporation ("SIPC") pursuant to which SIPC has agreed, subject to the terms of the Acquisition Agreement, to make an offer to acquire all of the outstanding common shares of Addax Petroleum by way of a negotiated take-over bid for C$52.80 per common share has been filed with the Canadian and U.K. securities regulatory authorities. 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 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 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 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.
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