Tentative schedule for closing of the 3R Petroleum/Enauta/Maha transaction
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Råvaror |
| Industri | Olja & gas |
3R Petroleum Óleo e Gás S.A. (“3R Petroleum“) and Enauta Participações S.A. (“Enauta”) have announced that 31 July 2024 is the tentative date for both (i) the closing of the transactions involving the roll-up of Maha’s 15% holdings in 3R Petroleum Offshore S.A. into 3R Petroleum; and (ii) the merger of Enauta Participações S.A. (“Enauta”) shares into 3R Petroleum.
The effectiveness of the transactions is subject to the fulfillment (or waiver, as the case may be) of certain conditions set forth in the relevant definitive documents. Board meetings of each company is scheduled for 30 July 2024, to confirm the fulfillment of the conditions precedent.
Hence, based on the tentative schedule, the first trading day of 3R Petroleum shares after the transactions’ closing is estimated to be 1 August 2024.
Maha will receive common share issued by 3R Petroleum corresponding to 2.17% of the combined entity as a consequence of its roll-up. Registration of 3R Petroleum shares to Maha is estimated to 5 August 2024. Together with the shares Maha already holds in 3R Petroleum, Maha will hold approximately 22 million shares, corresponding to 4.76% in the combined entity.